Janak Chauhan

Heritage Financial Planning All most everyone is aware of the importance of a financial plan. That said, not everyone implements one. It is hard to accomplish a financial plan without a professional strategy. It is necessary to set the goals on the basis of what you desire. However, setting a goal is one thing and to implement it is another all together. Thus when it comes to financial planning the first stop is to set the goal and next step is to setup the budget. It is necessary to cut expenses to start with. Creating an emergency fund can go a long way and help during times of emergency. It is essential that a small part of savings is used towards your financial. There is one important factor to keep in mind and that is to keep the goals realistic. A financial planner is an expert at doing this and their advice is usually worth listening too. College Planning Financial Planning is not a simple task to accomplish. There are many factors and situations to take into account. Financial Planning for higher education also known as ‘College Planning’ might seem an uphill tasks since the fees of some of the colleges can be quite high. However, with a good plan everything can be made possible. There is a percentage of the college tuition that you are expected to pay. The remaining amount is covered by the financial aid that one can receive. Do not be misguided by what has been awarded to friend or an acquaintance. Just because someone has received a low grant doesn’t necessary mean you are not capable of receiving any more than that. You are expected to pay a percentage and the financial aid you receive depends on which College you attend. It is a good decision to attend college and get some higher education. The education you receive after school goes a long way in helping one get a better job and earning higher. Hence it is a good idea to include the college financial aid plan in the overall financial planning. A certified college aid planner can come quite handy when doing the financial planning. Such people are experts at counselling families with the college applications and planning. Tax preparation Income tax preparation is very important since plays a vial role in the success of the overall financial plan. The tax planning is possible to be prepared for multiple years. The certified financial planners are experts at multi-year tax strategies. Doing so can help increase the savings and result in a better financial plan. It results in enabling the retention of more assets. Preparing the tax plan is not an easy task. An expert would require a lot of effort and be completely focused on the job to come up with an excellent tax plan that has the ability to integrate all the factors and maximize the tax benefit. The process of tax preparation involves a lot of analysis and topics like ‘income tax projection’, ‘estimating tax payment analysis’, ‘withholding analysis’, ‘availability to handle issues that come up’. Thus this is best left to the experts. Investment Planning All of us make investments over a period of time. Investing wisely will ensure one has less stress and worries in the future. Planning an investment is not the easiest task. There are many different factors to take into consideration when doing so. Thus this too is best left in the hands of the professionals. The sole purpose of an investment plan is to create wealth for the future. It is quite common for a life insurance plan to be used as as investment plan. The advantage of using an investment plan is that duels as a life insurance plan is that it not only handles the invest part of it, it covers death benefit. There are several techniques implemented by an expert to ensure a sound investment plan. Here are few popular steps taken when creating an investment plan: The first step is to setup a realistic goal. It is essential to calculate how much you imagine you will require once you retire. Once you have the figure, set a specific figure that suits yourself. For example a sample goal would be to save $500,000 by the time you are 65. The obvious next step is to calculate how you can get that done. This would involve calculating how much is required to be saved every month. It is best to set a realistic figure to save every month and adjust to meet your goals. Based on the details you have so far it is now the time to make a good investment strategy. Retirement Plans All of us are bound to retire soon or later. All most all people try to make their retirement as pleasant as possible both on a personal and financial level. Many people go out of their way to ensure a comfortable retirement. Simply planning is not enough; managing the retirement plan is equally important. To ensure a good retried life, it is essential to plan well too. Developing a retirement plan can be a daunting task and not everyone can handle the planning. A retirement finance planner is some one who would takes all the facts into consideration and is able to generate a very good plan. Life and health insurance Insurance is a very element of a financial plan. There are many kinds of life and health insurance plans that protect one against the cost of accidents, disability and illness. The decision on the what type of insurance to select depends on many factors like the age and economic situation. An insurance policy is best tailor made for each person so that one can ensure the best possible arrangement. Insurance is an important element of any financial plan. The level or of your income will help determine how much one can pay for the health cover. A quick example is that a family with income less than $60,000 will have a comparatively lower premium.