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Financial Plans are a JOKE!

“Plans are of little importance, but planning is essential.” –Winston Churchill
“Plans are nothing; planning is everything.” –Dwight D. Eisenhower
“Everyone has a plan until they get punched in the face.” –Mike Tyson

It is time that we recognize that Churchill and Eisenhower (and even Mike Tyson) were right. We place way too much weight in plans; in fact, most plans are little more than guesses. This applies to business plans and financial plans alike. The problem is that when you are making plans, someone has to be the assumer (sounds like some evil villain). And the assumer has to make some really important assumptions, forecasts or guesses – which will always be wrong. You just don’t have the information you need before the fact. This is true when you start a restaurant, a business, or when you are planning the rest of your financial life.

Now here is the key: I did not say that financial planning is a joke. I did not say that financial planners are a joke. I said that plans are a joke. That is part of the reason that so many people have had such a bad experience with the financial planning industry. They end up with a two-inch-thick book that collects dust.

The game changer is when you understand that you need a planner, not a plan!

As Wealth Managers/ Planners we know our value is in the ongoing advice we will provide as more information becomes available. This is a moving target, but the closer we get to the target, the easier it is to hit. That is why we need to be in front of you early and often in the wealth management/planning process!

Give us a call to update your planning to ensure that as your Wealth Manager/Planner, we are on target for a bull’s-eye!

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