Change Your Financial Plan

By: Joe Morgan

Nov 25, 2021 | Financial Planning

Prefer to listen rather than read? Pair this post with Deliberate Money Moves Podcast: Change Your Financial Plan.

It might seem strange that I would suggest this given I don’t even know what your Financial Plan is, or even if you have one. But hear me out.

Financial Planning is all about Planning and Never about a Plan

If you have built a financial plan in the past, I would bet that it is outdated and worthless at this time. I can say this because every financial plan becomes worthless over time. What’s important is the process of planning.

Life is going to throw you some huge curve balls and it’s always throwing you some small curve balls. Planning gives you the confidence to make decisions today in the context of who you will be and where you are going tomorrow.

Your Plan is Always Changing

Planning never results in a plan that you will want to or be able to follow for the rest of your life. However, it does tell you whether you are headed in the right direction and what decisions might be best for you today. I’ll bet that even within the last month, some new information or event has happened to you in your life that could create changes for your next several years.

Perhaps you’ve considered a job change or moving to a home with a better school district. Maybe your stock has moved up significantly or down significantly or you’re wondering how that will affect you when you retire. Or maybe you’ve received some family news that may affect the decisions you make in the future.

Whatever it is, let it into your plan and allow your plan to evolve as your life evolves.

Here’s this week’s Best Financial Life tip of the week: Change Your Financial Plan.

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