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Wednesday, April 13, 2011

The Case For Planning

I recently saw an article from Ben Stein. Mr. Stein has quite a varied background. He has been an attorney, a Department of Commerce economist, an adjunct university professor, speech writer for Presidents Nixon and Ford, a nationally syndicated columnist, author and actor (among a few other things).

Mr. Stein’s article made a case for financial planning. To start, he quoted Warren Buffett (a man certainly acquainted with making money work), who said, “It’s important to have a plan. An idiot with a plan can beat a genius without a plan.”

Ben goes on to say, “If you have a good plan for your money, you are light years ahead of operating on a day-by-day, hit-or-miss basis. This means, very simply, that you should have a gifted financial planner. Put another way, unless you yourself are an expert in financial planning, unless you are either a registered money manager of some sort, or a planner of a high degree, you should have a financial manager and planner working for you. “

Have you ever gone through the planning process (it’s not the same thing as just having someone invest your money for you)? It takes time and work. However, as you unfold your own financial plan, you gain understanding and confidence in your future. Even if you already are in retirement, it’s still a good idea to visit with a trusted financial advisor. At the least, you’ll gain a clear understanding of your financial picture, and that can provide real peace of mind.

Blog posting provided by:

Michael Snowdon, CFP ®

Michael is president of WealthRidge, a wealth management and financial planning firm, and is a professor emeritus of the College of Financial Planning. His focus in financial planning is to coach people in the process of meeting their goals and achieving their dreams.