While there are often few certainties in the world of finances, there is one: your actions today will impact dramatically on the financial lifestyle you will enjoy in the future. Clearly you are better off with a plan than without. A good financial plan, which highlights the financial choices you need to make, empowers you to achieve your desired lifestyle over time.
However, the unfortunate reality is that most people fail to achieve any significant measure of financial security, much less achieve their desired lifestyle, simply because they lack a specific financial plan based on their personal circumstances. An experienced financial planner will help you create a plan based on sound financial principles. Having such a plan in place should help reduce your financial risk and dramatically improve the prospects that you will achieve your financial goals and consequently enjoy the standard of living to which you aspire.
Many people however, believe that with a little bit of ad hoc planning and patience they can secure their ideal financial lifestyle on their own. Yet when they reach retirement, they may be bitterly disappointed to find themselves unable to afford the future they thought they had planned for.
The reason for this reality is that most individuals, who try to develop their own financial plans, do so in a vacuum. Financial planning is not their full time profession and consequently they may lack the knowledge and intellectual framework that forms the backbone of a systematic financial planning process. More importantly they lack the objectivity to see their finances as a third party would.