Financial Planning Services – Winfield, Illinois
The most typical misunderstanding about financial planning is that it is centered on investing. Of course investing is a part of financial planning as you should make wise investment choices, but there is so much more to it. Financial Planning is the method of creating strategies to help you take care of your financial affairs efficiently and meet financial targets. It is a holistic method that can help you make better decisions by turning vague objectives into concrete strategies, providing a map for action. Having a financial plan - and sticking to it - will give you a true advantage when it comes to planning your retirement and other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Winfield, Illinois
Frequently people say that they're saving for retirement or saving for their children's education. They sound 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'll have enough to live on post-retirement, it can create anxiety. But when you know what you should do and that you are following the financial plan, it provides peace of mind and self-assurance. Whenever 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 choices.
Certified Financial Planner - Winfield, Illinois
Most people don't have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed options and prudently use the limited resources for attaining 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 select 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 supplies a road map with an action plan that - if implemented diligently - will take you where you want to go in financial terms.
Missing the big picture is an issue seen too frequently with clients. If you're devoted to the near-term rather than on broader long-term implications, then you may wind 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 could be harmful for your financial wellness. A Certified Financial Planner can make you understand that the kind of investment you choose impacts the after-tax return. Remember, it's not about the returns an investment generates; it's about the net income that comes in your hand. Lots of you do not realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you're concerned about and you do not realize that there will be a drag on the ultimate amount of cash you'll have because of the tax liability that is waiting for you.
Influence of Financial Planning - Winfield, Illinois
The influence 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 one of the different elements of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your ideal car, debt management etc - are spokes on the wheel. Once you begin to make progress along each one of those spokes, you'll start to gain traction all round, and you will see your ability to realize your financial targets really start to take off. Additionally, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who have mapped out a financial path appreciate greater well-being, worry less, sleep much better and have vibrant relationships.
Financial Planning is a life process. Ideally, you need to meet a financial planner as early as possible in your lifetime and begin a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you're on track.
For more info, please feel free to contact us at any time and we'll be glad to help you!
