Several posts ago we talked about the top three reasons people avoid financial planning. But here’s some compelling reasons to get past those avoidance inclinations and claim the real benefits:
1. Save Money – Yes, you do have an upfront cost for planning services, but I’ve yet to sit with a client and not be able to save them money several times over that cost. When you look at the cost and complexities of insurances, loans, capital purchases, investment options, legal documents, and other topics, the experience and solutions that a professional (having worked with thousands of clients and hundreds of products) can offer you is a huge advantage in getting the right services at reasonable prices.
2. Minimize the “Oops” Factor – Most people spend an average of 2-3 hours per week during working hours trying to deal with unexpected financial matters and about 3 hours per day additionally worrying how to juggle their ongoing financial life. When you make your plans upfront, you no longer have to waste these thousands of hours each year or deal with the consequences of unnecessary penalties and premiums of trying to fix a situation during a crisis. You can enjoy a lot with this ‘extra’ time and money!
3. Take Care of Yourself – When you invest in some upfront planning, you take care of yourself not only financially, but also improve your health, relationships, and future life. Financial planning is about making your resources work for your towards your goals – it really isn’t about math, paperwork, or the stock market…so start claiming those benefits for yourself, your family, and your business now.