You are never too old or young to create a financial plan – everyone needs one. A financial plan is an ongoing process, and will adapt as your goals change over time.

Here are 3 reasons why you need a financial plan:

  1. A financial plan can help reduce your stress. While things don’t always go as planned, having a financial plan in place will help to give you confidence during uncertain and volatile times.
  2. There is a better outlook when you have a plan. It is not easy to tell where you are going if you don’t have a plan to get there. You may have multiple goals – such as sending your kids to college, purchasing a house, saving for retirement, or even planning for your long-term care – but you need to have a financial plan in order to get there. While your goals will change over time and this plan is not set in stone, it is a great foundation to your financial “roadmap”.
  3. You are more likely to stay on track when you have a plan. Having a plan set up, it is easier to weather uncertainty. Knowing that you are saving and investing for a specific goal, it is much easier to follow your plan than to be led astray.

When the market is volatile, as it has been over the past couple of months, it is not the time to stray away from your financial plan. It is the perfect time to reevaluate your plan and confirm that your goals are unchanged and headed in the right direction.

Even when it seems tough, continue to stay the course and follow your financial plan. If you do not have a financial plan in place, now is the perfect time to set one up. Let Struble and Company with Raymond James help you create the right financial plan for you and your goals. Struble and Company Financial Advisors can be reached at 931-410-3030.