Don’t Let Your Plan Become a Doorstop

by Jamie B. Ostrander

You spent good, hard-earned money on a robust financial plan. You hired a well-qualified advisor and after hours of goal defining, data gathering, and number crunching, there it was, bound neatly with a beautiful bamboo and cotton fiber paper cover: your financial plan. Then life happened, now it’s a doorstop. As the numbers, projections, and even some goals became obsolete you think, what now?

There is value in a well-designed plan, without one it can be difficult to know where to begin to set in place activities needed to achieve your goals. Yet, the value is not just in having a plan done, but in doing the plan.

Often, when we approach a task, we are interested in what we get for accomplishing it. In many cases the reward for winning an athletic championship is a trophy and recognition. However, something that lasts even beyond that initial recognition is who the champion becomes in the process of achieving their goal. Their mind is now quicker and body stronger through the ongoing process of training. They not only won the championship, they became a champion. Jim Rohn said it best; “If you go to work on your goals, your goals will go to work on you. If you go to work on your plan, your plan will go to work on you. Whatever good things we build, end up building us.”

The value of our financial plans is in the planning. The activity of defining your goals, and continuously asking why, builds you as much as it builds your plan. One of my favorite activities professionally is working through what is important about money to clients. The exercise leaves a mark, both mentally and emotionally as they rediscover and put into words, their needs, wants and wishes. It is a very healthy and fruitful exercise, and it builds them as much as it builds the plan.

Old plans, if not revisited and re-developed through a collaboration of effort are just that, old. To continue to pursue the confidence of knowing the direction you are headed, the value is in the planning, and the ongoing refreshing effort of revisiting your dreams and defining the path to get there.

If you have an old plan, and would like to begin again in discovering your direction, please reach out to our wealth services firm in Satellite Beach, FL – Melbourne/Brevard area at (321) 773-7773 to schedule your complimentary initial consultation and start a conversation about what matters most to you.

You should not assume that any discussion or information contained in this publication serves as the receipt of, or as a substitute for, personalized investment advice from FirstWave Financial. A copy of the Firstwave’s current written disclosure statement discussing out advisory services services and fees is available upon request.