Financial Planning.. what's the point!?

One of my concerns in finance, is that it feels like there are some folks out there that appear to not think about their future. I believe there are a few reasons. One might be they don't have to worry about the future (they are already financially well off). I believe the other reason is that, it is easier not to think about the future if it is not a pretty picture.

Regardless of your financial situation in life financial plans can be of GREAT importance.

Here's WHY:

1. To see the future:
We all want a crystal ball that can tell us where and what things will look like down the road. Are we going to be famous, keep all our hair... well I can't tell you that, but financial plans can sure give you a good look at the "type" of lifestyle you can lead. EX. None if you don't plan for it!

2. Taxes
For those people who know they will be A-OK financially, have you ever wondered how much taxes you might have to pay down the road? You might be able to get a close approximate estimate on death to show what that would look like for your family.

3. Legacy
To figure out what YOUR LEGACY will look like. What do you want to be remembered for? What do you want to leave to your children/family? A financial plan can give you some guidelines as to what that looks like so you can build plans to achieve those dreams.

4. PLAN
This is my girlfriends favourite word and you should see her plans... amazing! Have you ever been driving to an unknown destination and thanked your lucky stars you have an iPhone with GPS and it planned your travel time for you. When you have a plan clearly laid out...how easy is it to stick to it? Do you sometimes get traffic, or construction stops... YES, but your goals are on paper, with directions to achieve - so you are that much more likely to achieve them. ** We all know life happens, and plans are only plans. It is important that yours change with you when life happens.

What's your financial plan?
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