Best Time To Create a Financial Plan? Now!

It’s not uncommon for people to wonder about the best time to create a financial plan. Ten years before retirement? Twenty? Five?   Are you on the right financial path? Contact Prism Planning Partners today!   Everyone Should Consider Having A Financial Plan Linked to Their Goals In fact, people in Libertyville, IL (and beyond)

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How Much Does a Financial Plan Cost?

How much does it cost for a comprehensive financial plan in Libertyville, IL? The amount varies, depending on the fee structure, depth of the plan, type of advisor and breadth of the ongoing relationship. It’s important to understand all of these elements if you’re in the market for a financial advisor. Are you on the

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What Is a Comprehensive Financial Planning Checklist?

The best way to approach your finances is to develop a comprehensive financial plan with a financial advisor. The purpose of such a plan is to work toward your goals given the resources available. But the development of a robust financial plan requires input from you – and it requires that your financial advisor  has

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5 Do’s and Don’ts When Creating a Financial Plan

What is a financial plan? Financial plans are essential vehicles to help people get through life comfortably, reaching their goals and avoiding pitfalls, such as too little savings for retirement. A financial plan covers the following six categories: Expenses and income Investments Retirement savings Educational savings (such as college savings) Risk management Estate plan (wills,

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How Small Businesses are Reinventing Themselves

American capitalism has never been more dynamic, even amidst an unforeseen pandemic.  The internet has partially leveled the playing field between large and small businesses.  However, the federal government’s corporate-friendly coronavirus financial aid programs have made survival, let alone profitability, that much more challenging for small businesses in Chicago, Libertyville, and beyond.   There is a

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Top 5 Financial Tips For Small Business Owners

As a small business owner in Libertyville, Illinois it is important that you keep on top of your business’s finances, of course. But you should also optimize your personal finances so that your entire economic life is well-managed and working for you at all times. What’s the best way to do that?    Are you

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Comprehensive Financial Planning for Small Business Owners

One of the smartest moves small business owners in Libertyville, IL can make is to consult with a CERTIFIED FINANCIAL PLANNER™ professional to set up a comprehensive financial plan.  Why? Well, starting and running a small business can oftentimes be very time-intensive and soak up all the time you have to devote to financial planning

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The Emotional Benefits of Working With a Financial Advisor

Financial advisors can provide tangible benefits in the form of investment advice that may increase net worth.  However, there are also some latent benefits of working with a financial advisor.  Ask anyone who has met with a financial advisor about the experience and they are likely to say the interaction resulted in emotional, psychological, as

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Four Ideas for Potential Financial Relief in Light of COVID-19

By Nicole Sullivan, CFP®, RMA, Director of Financial Planning The Coronavirus is significantly impacting households of all wealth levels. For some, it might be as minor as social inconveniences. But for many, the economic impacts are truly significant. On March 27, 2020, the bipartisan CARES Act was signed into law. This law provided the single

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CONQUER “FINANCIAL STACKING”

In a recent editorial for the National Endowment for Financial Education (NEFE), Brent Neiser commented on “Financial Stacking: A Modern American Burden.” He wrote:   Myriad choices, opportunities, and expectations generated by the financial services industry, media, advertisements, experts, employers—and even family and friends—create an amassment of jumbled priorities that often leads to inaction, frustration,

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