Financial Plan

A financial plan is a document that outlines, in financial terms, where we are now, where we want to be down the line, and ideas and strategies on how to get there. And it tends to be a little more fleshed out than, “Step One: Make a bunch of money; Step Two: Be rich.” A financial plan usually includes a rough timetable, retirement plans, asset valuations, considerations of future expenses (like that PhD we’re so totally going to get one of these days), and anything else that can impact our financial world.

As things change (like when we decide we so totally do not want a PhD), our financial plan can change, too. It’s helpful to have someone in our corner, like a certified financial planner, who can help us measure how changes we make today might impact our financial future.