Why is financial planning important?

Have you ever thought to yourself that everyone must be saving but you? Do you believe that financial planning is only for those wealthy few with lots of money to spare?

 

The reality is a high salary does not guarantee financial success, nor should a modest salary prevent financial success. The key step in successful financial planning is just getting started. Find a financial advisor who has the Certified Financial Planner (CFP) designation.

 

Financial planning can help you avoid mistakes such as generating too much debt, ignoring retirement opportunities provided by an employer, not having enough cash when you need it or having inadequate insurance.

 

Working with a financial planning professional with their CFP designation can help you make wiser decisions:

• Save at twice the rate as non-advised households*
• Feel better equipped for life’s unexpected events like financial emergencies, critical illness or premature death than non-advised households*
• Feel on track to retire when you want*
• Feel on track with financial affairs*
• More likely to take annual vacations, splurge and live the life you want.*

* Financial Planning Standards Council, www.fpsc.ca The Value of Financial Planning