Financial planning has not worked for me: Where are you now?

You may have tried financial planning in the past, either on your own or with a professional, and you felt it is not for you. The truth is someone is doing your “planning.” If your answer is “no one”, it means you are in the driver’s seat but have taken your hands off the wheel. To get things back on track, start by assessing where you are today. Keep it simple to start… what is your statement of financial purpose (your why), and what do you have now (assets and liabilities), what is your cash flow like (do you bring in more than goes out each month), and what other financial instruments do you have (e.g., life insurance).

Important Action Item: As quick as you can, write down a statement of financial purpose and make a record of where you stand today. You can always come back and refine this later, but this is a great way to get started.