Financial Planning Company – Schiller Park, Illinois

The most common misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make intelligent investment decisions, but there is a whole lot more to it. Financial Planning is the method of developing strategies to help you control your financial affairs efficiently and meet financial goals. It is a holistic method that helps you make smarter decisions by turning vague objectives into concrete plans, supplying a road map for action. Having a financial plan - and sticking with it - will give you a true advantage with regards to planning your retirement and other long-term financial and life goals.

Financial Planning For the Future - Schiller Park, Illinois

Often individuals say that they're saving for retirement or saving for their children's education. They seem like precise goals, however they are really quite vague. Financial planning can find the important numbers - How much do you need to save and also by when? If you are not sure whether you'll have enough to live on post-retirement, it can create anxiety. But once you know what you should do and that you are following the financial plan, it offers 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 will help you make better-informed decisions.

Certified Financial Planner - Schiller Park, Illinois

Many people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated options and prudently use the limited resources for reaching financial freedom. Say, if you have identified retirement and funding your child's education as your financial goals, but you only have Rs. 1,000 extra every year to achieve these objectives, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you'll have the reassurance of knowing that an expert has reviewed your circumstances and that you're doing something positive for your financial predicament. Financial planning offers 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 are devoted to the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For example, counting on pre-tax returns for financial decision-making instead of knowing that various kinds of investments are subject to differing tax rates might be harmful for your financial wellness. A Certified Financial Planner can make you understand that the type of investment you choose impacts the after-tax return. Don't forget, it isn't about the returns an investment produces; it comes down to the net income that comes in your hand. Many of you fail to realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you're concerned about and you fail to realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability which is waiting for you.

Impact of Financial Planning - Schiller Park, Illinois

The influence of sound financial planning on over-all financial well-being is multifold and multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the heart, each of the various components of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so on - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you will begin to gain traction overall, and you will see your ability to realize your financial goals really begin to take off. Additionally, we all know that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who have mapped out a financial path enjoy greater well-being, fret less, sleep much better and have strong relationships.

Financial Planning is really a life process. Ideally, you need to meet a financial planner as soon as possible in your lifetime and generate a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you're on the right track.

For more details, please feel free to contact us at any time and we will be glad to help you!