Financial Planning Services – Saint Charles, IL
The most popular misunderstanding regarding financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as you should make smart investment choices, but there is a whole lot more to it. Financial Planning is the process of creating strategies to help you control your financial affairs efficiently and meet financial targets. It is a holistic process that can help you make smarter decisions by turning vague objectives into concrete plans, offering a guide for action. Having a financial plan - and sticking with it - provides you with a true advantage with regards to planning your retirement and other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Saint Charles, IL
Often folks say that they are saving for retirement or saving for their little one's education. They seem like distinct goals, however they are really quite vague. Financial planning can find the important numbers - How much do you need to save and by when? If you are not sure whether or not you will have enough to live on post-retirement, it can create anxiety. But when you know what you have to do and that you are following the financial plan, it gives you peace of mind and confidence. When your situation changes from single to married, from renting to buying a home, having children or caring for aging parents, financial planning can help you make better-informed choices.
Certified Financial Planners - Saint Charles, IL
The majority of people do not have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make informed choices and prudently use the restricted resources for reaching financial freedom. Say, if you have identified retirement and funding your son or daughter's education as your financial targets, but you only have Rs. 1,000 extra every year to achieve these objectives, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you will have the peace of mind of knowing that an expert has reviewed your situation and that you are doing something positive for your financial situation. Financial planning supplies a road map with an action plan that - if followed faithfully - will take you where you want to go in financial terms.
Missing the big picture is an issue seen too often with clients. If you're centered on the near-term rather than on broader long-term implications, then you might end up impairing the build up of wealth. For instance, relying on pre-tax returns for financial decision-making rather than knowing that various kinds of investments are susceptible to differing tax rates might be damaging for your financial well-being. A Certified Financial Planner will make you understand that the kind of investment you choose affects the after-tax return. Remember, it's not about the returns an investment produces; it comes down to the net income that comes in your hands. A lot of you do not realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you are worried about and you do not realize that there will be a drag on the ultimate amount of money you'll have because of the tax liability that is waiting for you.
Impact of Financial Planning - Saint Charles, IL
The impact of sound financial planning on overall financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the center, each of the various aspects of your financial life - like purchasing a home, saving for retirement, planning for children's education, owning your ideal car, debt management and so on - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you are going to start to gain traction all round, and you'll see your ability to recognize your financial targets really begin to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who've planned out a financial path appreciate greater well-being, fret less, sleep much better and have strong relationships.
Financial Planning can be a life process. Essentially, you should meet a financial planner as soon as possible in your lifetime and establish a long-term relationship. Then meet regularly to review the Financial Plan to make sure you are on track.
For more info, please feel free to contact us at any time and we'll be happy to help you!
