6 min
Do I Need a Financial Plan? Vast Voice: Telling Business Secrets to Entrepreneurs!
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- Entrepreneurship
If I am going to San Francisco to Los Angeles without a plan I may end up in Las Vegas. What happens if I need to be in LA for an important meeting? To see my son? Maybe to go to Disneyland with my family? I would miss out. Without a plan there could be issues. Same with retirement. If I do not plan I may just miss out. By missing out in retirement I may mean having to go back to work.
Planning personal finances used to be the worry of the wealthy and their worry—usually preservation of wealth—was attended to by teams of trust officers and lawyers. Many of today’s middle class families have different concerns: funding retirement; educating children; protecting assets; and coping with unexpected changes in health, employment, and marital situations. But, whether your goal is to build or protect assets, the sooner you start, the better.
If I am going to San Francisco to Los Angeles without a plan I may end up in Las Vegas. What happens if I need to be in LA for an important meeting? To see my son? Maybe to go to Disneyland with my family? I would miss out. Without a plan there could be issues. Same with retirement. If I do not plan I may just miss out. By missing out in retirement I may mean having to go back to work.
Planning personal finances used to be the worry of the wealthy and their worry—usually preservation of wealth—was attended to by teams of trust officers and lawyers. Many of today’s middle class families have different concerns: funding retirement; educating children; protecting assets; and coping with unexpected changes in health, employment, and marital situations. But, whether your goal is to build or protect assets, the sooner you start, the better.
6 min