The Importance of Financial Planning
Only One Piece of Financial Wellness!
Go to any bookstore and you will find an endless supply of books about the importance of financial planning. But is financial planning enough? Maybe there is more to it that just turning over your future to an aggressive financial planner or bank employee. I speak from experience when I say that, like any career field, there are reputable, knowledgeable people in this industry and then there are people who don’t have a clue what they are doing.
Financial wellness is so much more than just planning. You can have the best plan in the world and still be heading down a path to poverty and fixed incomes.The financial world, particularly in 2009 and beyond is more unstable and unpredictable than an Atlantic Ocean crossing in the early 1900’s. Anyone remember the Titanic? True financial wellness is not just about planning. It is about problem solving and critical thinking. Without these important skills, any financial planning you do would be weak at best. It will never matter how many fundamentals of financial management, financial tips, and financial strategies you read about or hear about if you can’t evaluate what you are learning and apply the information to your life.
And the consequences of being lazy about staying on top of your financial wellness are huge. The vast majority of my wellness categories are made much worse if you don’t achieve and maintain financial wellness. And you don’t have to be rich. You just have to be knowledgeable and you have to be in control.
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