Last week I published an article about 10 things Good Financial Planning is. Here are a couple of things that it is not.
What is financial planning? It’s interesting to hear what people think financial planning is all about. Many times the perception is wrong, and sometimes we have to hear what something is not to get a better understanding of what it truly is.
Here are four things that financial planning is not:
1. Financial planning is not a panacea to solve poor financial behavior.
No matter how well the advisor does his or her job, poor financial habits, such as overspending and incurring debt, will derail the best laid plans. The advisor can not solve these issues for the client. This needs to come from the client. Now, a good advisor can certainly help the client by imparting sage wisdom and leading the way, but again the work has to come from the client.
see the complete article here: Four Things Financial Planning is not! | Von Haefen Financial Management.