Behavior Gap: Plans Are Worthless

The idea that financial plans are worthless may seem a little odd coming from someone like me.

The reality is that while I think financial plans are worthless, THE PROCESS OF PLANNING is invaluable

But we fall in love with the idea of a plan because it means we’ve checked something off the list and moved on. The problem is that life doesn’t always fit on the pages of a financial plan.

The biggest issue with plans is that they require you to make assumptions about things you can’t be 100% sure of, like family, work, and, of course, the market. So while a plan may get you pointed in the right direction, never forget that planning and making ongoing course corrections are the real keys to long-term success.

via Behavior Gap: Plans Are Worthless.

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