Going through life without goals or plans to reach them is like sailing the ocean on a ship with no destination.
Financial planning is a process everyone needs to commit to in order to achieve their goals and dreams for the future.
It is through planning that we're able to overcome the inevitable financial obstacles that pop up along the way, like the time I had to decide whether I should give up $36,000 a year to write my blog; or learning how to budget if you lose your job.
Financial planning is the way to make smart financial decisions that help make sure you have the money you need today, and the money you need in the future. When you take action and make a plan for your money, you avoid making costly financial mistakes and take control over your life instead of letting your money (or lack of it) control you.
Should You Work With a Financial Planner?
Some people like to figure things out for themselves, and prefer the “learn as you go” approach to financial planning. If you'd rather get on track without costly mistakes and get help from a professional, here are some articles I've put together to help you choose and work with a financial planner:
- How to Choose the Best Financial Planner for You – Make sure you find an advisor that is a perfect fit for you.
- How to Do a Background Check On a Financial Advisor – Is your advisor the next Madoff? Doing a little homework might be able to prevent being had.
- Interview Questions to Ask Before Hiring a Financial Advisor – Treat the new advisor as a potential new employee and be prepared to ask some hard nosed questions.
- The #1 Question to Ask Your New Financial Advisor – If you only had to ask one question, this is what it should be.
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Working With a Financial Planner
Once you have chosen a financial planner, you'll want to work closely with that person to establish your goals and expectations. Here are some articles to get you started, knowing what to ask your advisor and things you hope your advisor won't say!
- 7 Questions to Ask Your Financial Planner – When working with your planner, here's a list of questions to ask on your next review meeting.
- 5 Things You Don't Want to Hear From Your Financial Planner – Be prepared to face reality of your situation.
Getting Started With Financial Planning
When you think about “financial planning” it can get overwhelming really fast. I mean, it covers your entire life from your college years to when you get married, have children, when the children go to college, when you retire – financial planning is needed for every stage of life. Rather than get overwhelmed into inaction, here are some articles to get you started:
- Setting Financial Goals – It's That Easy – Setting goals is uber important.
- Financial Planning: Let's Get Started – Not sure how to to get started? Here's the times you should consider.
- Building Your Dream Financial Plan – Planning for retirement with no financial plan is like trying to build a house with no blueprint – your bound to fail.
Financial Planning For Women
Women have some unique needs when it comes to finances. First of all, women tend to live longer than men, meaning they need their money to stretch the additional years of their lives.
Additionally, women are still making slightly less in the workplace than the average male. I try to cover financial planning topics so it helps the majority of people, but here are some articles I wrote specific to women's financial planning needs:
- Financial Challenges for Women and How to Overcome Them – Women are faced with more challenges that men. Here's how to prepare.
- Women and Divorce: Issues that Need to be Addressed – Divorce statistics are scary high. If it can't be avoided, here's how women can be prepared.
- Ladies Shout Out: Know Your Stuff – A quick message to all the ladies out there!
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