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Financial Planning in DuPage County

Wheaton IL financial planning

Financial Advisors For Budgeting and Long-Term Planning in Wheaton, Downers Grove and the Chicago Area

According to a recent survey conducted by CNBC and the financial wellness company Acorns, as many as 75 percent of Americans handle their finances on their own. While this approach can sometimes be successful, many people find themselves making costly mistakes, or living month to month without a comprehensive financial plan for the future. A professional financial planner can help you understand the complete picture of your finances so that you are better informed and equipped to make decisions that can help you achieve your goals and experience the life you want for yourself and your family.

At Brookstone Wealth Strategies, we serve clients at all stages of their financial journeys, from those just starting to plan for the future to those seeking to preserve their wealth for future generations. We have more than 30 years of experience in financial and wealth management, and we will work with you to establish and implement a plan designed to meet your short-term and long-term goals.

The Foundations of Financial Planning

In order to start planning for the future, it is first important that you understand your current financial situation. This means taking a close look at the value of your assets, including your home and other real estate properties, vehicles, valuables, checking and savings accounts, investments, businesses, and more. It also means calculating the amount of your outstanding debt, including your mortgage, auto loans, student loans, credit card debts, and other liabilities. Considering your assets and debts together will give you a clear understanding of your starting point.

It is also important to understand your current cash flow so that you can create a budget and start setting goals. As you begin the process of financial planning, you should keep track of your monthly income from all sources, including your job, side businesses, and investments, as well as all of your monthly expenses including housing, utility bills, food, clothing, travel, loan payments, and entertainment. This will give you a better idea of whether you have funds you can save, invest, or use to pay off debts, or whether you need to cut costs in some areas.

A Financial Plan That Addresses Your Needs

Once we understand your current situation, we can work with you to identify and set your financial goals and determine when you would like to achieve them. Whether you are trying to buy a home in five years, retire comfortably in 25 years, or take a more comprehensive approach to your financial management, we can help you strategize and implement a plan to start working toward your goals in both the short term and the long term. Some of the specific areas where we can help include:

  • Retirement planning: Based on your intended retirement date and desired lifestyle after retirement, we can help you determine your income needs and create a plan to help you start working toward your goal as soon as possible.
  • Education planning: We can advise you on strategies that can help you provide for your children's or grandchildren's college or university education by the time they reach the appropriate age.
  • Investment management: We manage a diversified portfolio of investments including but not limited to stocks, bonds, and mutual funds, with the goal of preserving and growing your assets depending on your preferences and risk tolerance.
  • Insurance and asset protection: We advise you on home, auto, health, business, and life insurance policies that protect your assets from losses and liability.
  • Estate and legacy planning: We offer advice on wills, trusts, and other strategies for preserving your assets for future generations and passing them on as you intend after your death, and we refer you to estate planning attorneys who can draft your customized documents.

Contact a Naperville, IL Financial Planner

Whether you are unsure how to manage your finances on your own or you are looking for additional guidance from a professional financial advisor, we can help you create and implement a plan that meets your needs. Contact us today at 630-741-4491 to schedule an appointment. We serve clients in Naperville, Warrenville, Wheaton, Downers Grove, Lombard, Batavia, Aurora, DuPage County, Kane County, and throughout the Chicago area, Illinois, and the U.S.

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