Do you have a financial plan?
What Is a Real Financial Plan?
I mean a real, written financial plan—one that outlines exactly what you need to do today, tomorrow, and next year to achieve each of your financial goals.
Why a Written Plan Is So Powerful
A true financial plan can have a profound impact on your ability to retire successfully. It can also determine whether your children receive a college education—or what happens to your family in the event of your untimely death.
If these concerns were addressed, your quality of life would likely improve dramatically. You’d gain peace of mind about your financial future and a sense of control over your destiny. Financial stress—a leading cause of divorce—would be significantly reduced, improving family harmony as well.
The Cost of Not Planning
Without financial management, it’s easy to feel insecure and uncertain. You don’t know where you stand or what actions to take. If you haven’t taken the time to plan for major goals—like retirement or your children’s college education—you’re living with an open void. You may be spending time and money on the wrong things, which leads to mounting anxiety about what the future may hold.
Why Don’t More People Plan?
Yet, despite the obvious need for planning, many people continue to spend all they earn on their current lifestyle.
So why don’t we get off this train—even when the statistics clearly show we’re headed toward financial disaster?
The answer, oddly enough, is readiness. Most people aren’t lacking concern—they’re simply not ready to act. They haven’t taken time to visualize what financial failure would actually feel like.
Visualizing Financial Failure—and Success
Can you imagine having to tell your child, “I’m sorry, you can’t go to college because I can’t afford it”? Or later in life, having to knock on your grown children’s door and say, “I need to borrow money to help pay my bills”?
Now, imagine the opposite.
What does life feel like for someone who has planned?
The Real Benefit of Financial Planning
A few years ago, I informally surveyed clients who had worked with me for at least five years. I asked, “What was the greatest benefit you received from the planning process?”
The overwhelming response? “Total peace of mind.”
In fact, the most common word I heard was simply… “relief.” People repeatedly said, “It felt like someone had lifted a thousand pounds off my shoulders.”
That’s the true power of planning: the security that comes from knowing you’re in control of your financial future.
How to Choose the Right Financial Planner
So how do you choose a good financial planner?
Finding the right advisor takes effort. You don’t want to go with the first name you come across. Here are a few key criteria to guide your decision:
Key Criteria to Evaluate a Financial Planner
1. Experience Matters
How long has the planner been in practice? Financial planners get better with experience. Every client brings unique circumstances—and those accumulated insights are invaluable. Just as hindsight is 20/20, experienced planners benefit from the hindsight of every client they’ve ever worked with.
2. Ask for References
Not just one or two—ask for a dozen or more. Specifically, request long-term clients who’ve been with the planner for several years. Their stories will tell you whether the advice they received truly worked. If a planner has been in business for a while but can’t provide seasoned client references, that may be a red flag.
3. Understand Their Compensation
What’s the planner’s primary source of income? Do they earn commissions from selling financial products like insurance and investments, or do they primarily earn fees from planning services? If most of their income comes from commissions, their recommendations may be influenced by how much they earn from specific products. That can create a conflict of interest.
Your Planner Is Your Financial Doctor
Choosing a financial planner is just as important as choosing a doctor. Why? Because in both cases, your long-term well-being is at stake. Make the wrong choice, and the consequences could be serious.
💬 Call-to-Action
👉 You don’t need to guess your financial future—plan it.
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