Financial Planning Services – Wheeling
The most prevalent misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make smart investment decisions, but there's a lot more to it. Financial Planning is the method of creating strategies to help you manage your financial affairs effectively and meet financial goals. It is a holistic process that can help you make smarter decisions by turning vague goals into concrete strategies, giving a road map for action. Having a financial plan - and sticking with it - will give you a real advantage when it comes to planning your retirement and other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Wheeling
Often individuals say that they're saving for retirement or saving for their little one's schooling. They sound like precise 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 you'll have enough to live on post-retirement, it can create anxiety. But once you know what you have to do and that you are following the financial plan, it provides peace of mind and confidence. When your situation changes from single to married, from renting to buying a house, having kids or caring for aging mothers and fathers, financial planning can help you make better-informed decisions.
Certified Financial Planners - Wheeling
Most people do not have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated choices 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 goals, but you only have Rs. 1,000 extra each and every year to achieve these goals, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you'll have the secure feeling of knowing that a specialist has reviewed your needs and that you're doing something positive for your financial situation. Financial planning offers a map with an action plan that - if followed faithfully - will take you where you want to go fiscally.
Missing the big picture is an issue seen too frequently with clients. If you're centered on the near-term rather than on much wider long-term implications, then you could wind up impairing the build up of wealth. For example, depending on pre-tax returns for financial decision-making as opposed to knowing that various kinds of investments are susceptible to differing tax rates could be damaging for your financial well-being. A Certified Financial Planner will make you realize that the type of investment you choose has an effect on the after-tax return. Keep in mind, it's not about the returns an investment generates; it's about the net income that comes in your hand. Lots of you fail to realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you're worried about and you fail to realize that there will be a drag on the ultimate amount of money you will have because of the tax liability that is awaiting you.
Influence of Financial Planning - Wheeling
The influence of sound financial planning on overall financial well-being is multifold and also multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the center, each of the different aspects of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your favorite luxury car, debt management and so forth - are spokes on the wheel. Once you begin to make progress along every one of those spokes, you are going to start to gain traction overall, and you will see your ability to recognize your financial goals really start to take off. Further, we all know that one of the greatest causes of stress and conflict in relationships is money. Individuals and also families who've planned out a financial path enjoy greater well-being, fret less, sleep much better and have vibrant relationships.
Financial Planning can be a life process. Essentially, you need to meet a financial planner as early as possible in your life and set up a long-term relationship. Then meet regularly to review the Financial Plan to make sure you're on track.
For more information, please do not hesitate to contact us at any time and we'll be happy to help you!
