7 Important Questions a Financial Plan Can Help You Answer

7 Important Questions a Financial Plan Can Help You Answer
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Dear Readers: October is the month for fall colors, a chill in the air, Halloween—and financial planning. Yes, October is National Financial Planning Month. And while that might not stir your senses in quite the same way, it really could make a significant difference in your ability to enjoy every season to the fullest. So even though you may believe that financial planning isn’t important for you, I ask you to hear me out.

A lot of people think they don’t have enough money to need a financial plan or that it costs too much. They’re putting the emphasis on “financial.” To me, the emphasis should be on “planning,” because having a financial plan simply means knowing where you want to go and figuring out how best to harness your resources to get there. And it’s not just about money. It’s about your aspirations, your priorities for you and your family, and how to protect yourself both now and in the future.

Real Questions for Real People

I can’t emphasize enough that a financial plan isn’t something esoteric or only for wealthy investors. It doesn’t have to be complicated or take a lot of time. And nowadays, it doesn’t have to be expensive. There are many ways of getting a financial plan—from DIY to online to in person.
Carrie Schwab-Pomerantz
Carrie Schwab-Pomerantz
Author
Carrie Schwab-Pomerantz, a certified financial planner, is president of the Charles Schwab Foundation and author of "The Charles Schwab Guide to Finances After Fifty."
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