Financial
Planning

Financial planning is about understanding what you are wanting in life and why. Some people want a new car, to work less hours, or to stay at home with their children. Life goals change from person to person. The purpose of financial planning is to make a realistic plan for you to achieve your goals in your timeframe.

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Some financial planners ask unrealistic questions to attempt to help... "how much do you think your utility bills will be in 20 years?", "how much do you expect to be making in 15 years?". The future is difficult to predict and for most people, our goals change every few years. Can you accurately predict were gas prices will be in 10 years or how much money you will be making?

 

Probably not.

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Thus, financial planning should be looked at as journey where you update the plan to your current goals and financial status. It should not be something where you make a plan once and think your life should stay on this strict path.

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The path to achieving your financial freedom is understanding what you want and creating a process to get there.