Financial Planning Company – Wheaton, Illinois

The most common misunderstanding regarding financial planning is that it is centered on investing. Of course investing is a part of financial planning as you should make smart investment decisions, but there's a whole lot more to it. Financial Planning is the method of creating strategies to help you manage your financial affairs efficiently and meet financial targets. It's a holistic method that helps you make better decisions by turning vague goals into concrete strategies, giving a guide for action. Having a financial plan - and sticking with it - will give you a real advantage with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Wheaton, Illinois

Often people say that they are saving for retirement or saving for their children's schooling. They sound like distinct goals, but they're really quite vague. Financial planning can find the key numbers - How much do you need to save and also by when? If you are not sure whether or not you will have enough to live on post-retirement, it can create stress and anxiety. But once you know what you have to do and that you are following the financial plan, it offers peace of mind and assurance. Whenever your situation changes from single to married, from renting to buying a home, having kids or caring for aging parents, financial planning will help you make better-informed decisions.

Certified Financial Planner - Wheaton, Illinois

Many people do not have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make knowledgeable options and prudently use the limited 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 each year to achieve these goals, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you will have the secure feeling of knowing that an expert has reviewed your circumstances and that you are doing something positive for your financial situation. Financial planning offers a map with an action plan that - if followed diligently - will take you where you want to go in financial terms.

Missing the big picture is a problem seen too often with clients. If you're devoted to the near-term rather than on broader long-term implications, then you might end up impairing the accumulation of wealth. For example, depending on pre-tax returns for financial decision-making as opposed to understanding that different types of investments are susceptible to differing tax rates might be harmful for your financial well-being. A Certified Financial Planner will make you understand that the kind of investment you choose impacts the after-tax return. Remember, it's not about the returns an investment produces; it's about the net income that comes in your hands. Many of you do not realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you are concerned about and you do not realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability that's awaiting you.

Impact of Financial Planning - Wheaton, Illinois

The influence of sound financial planning on over-all financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the heart, each of the different elements of your financial life - like purchasing a home, saving for retirement, planning for children's education, owning your dream car, debt management etc - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you are going to begin to gain traction overall, and you will see your ability to realize your financial targets really begin to take off. Additionally, everyone knows that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who've mapped out a financial path appreciate greater well-being, fret less, sleep much better and have strong relationships.

Financial Planning is really a life process. Preferably, you should meet a financial planner as soon as possible in your life and generate a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.

For more information, please do not hesitate to contact us at any time and we'll be happy to help you!