According to a joint survey by the Consumer Federation of American and the CFP Board, households with a financial plan in place felt a higher level of financial well-being than those without a plan. According to the survey of 1,508 financial decision makers in households nationally:
Those with plans are more likely to feel they are on pace to meet all of their financial goals, such as saving for retirement or for emergencies, by a margin of 50% to 32% and for all but the lowest income bracket (those making less than $25,000 a year);
Those with plans are more likely to feel “very confident” about managing money, savings and investments, by a margin of 52% to 30% and across all income brackets;
Those with plans are more likely to describe themselves as living comfortably by a margin of 48% to 22%. In addition, as many people who plan and who make $50,000 to $99,999 a year say that they live comfortably as non-planners in the $100,000 and above income bracket;
read the complete article here: Financial Planning Really Does Make a Difference | The Chicago Financial Planner.