A few years ago some clients of mine were planning their annual vacation to Disney World. They told me about all the planning that goes into securing the right resort, reserving meal times and arm bands that allow you to jump to the front of the line.
I couldn’t believe how much effort went into a Disney World vacation. I asked how long they spent on planning the trip, which they half jokingly (and half seriously) replied, “Months!”
Are you one of those who spend more time planning their family vacations than designing a solid financial plan? While it does take some effort to create a financial plan, it’s certainly not any more difficult or time consuming than cashing in airline miles or scouring the Internet for a good hotel deal.
The simple truth is that financial planning focuses on two key (and necessary) areas: financial protection and increasing your wealth.
I already explained how to protect your finances in my first article of this series. Now that you know how to protect your money, it’s time to make more of it.