- If your financial dreams mean you occasionally think about how nice it would be to have certain things, you are missing out.
- Here is one easy way to meet your goals: have a financial plan, whether formal or informal.
Everyone has things they’d like, but one thing separates those who get them from those who don’t: a financial plan.
PNC Investments surveyed its customers to see if they wanted to create a financial plan, says Rich Ramassini, a certified financial planner and senior vice president at PNC Investments.
The ones who did had two caveats.
They didn’t want to it to take a lot of time. And, they didn’t want to have to share a lot of personal information.
It’s the actual planning that brings clarity and understanding, not the 60-page document that is immediately obsolete.
SENIOR VICE PRESIDENT, PNC INVESTMENTS
If these are your sticking points, you can relax. It doesn’t have to take weeks of your life. And it doesn’t have to be that complicated. In fact, Ramassini says, it’s possible the real benefit comes from actually sitting down and doing it.
You can have a conversation with a professional or just sit down with a piece of paper and a pen. It’s the actual planning that brings clarity and understanding, “not the 60-page document that is immediately obsolete,” Ramassini said.
It’s similar to a budget. You can be as formal and complicated as you like. Pay someone to go over your income and expenses with you, and have that person create a detailed budget. Or just use a little notebook to track spending and meet your monthly costs.