Are Financial Plans Just for the Wealthy?

February 10, 2020
We all have goals. Juggling multiple goals in a world of finite time and money can be tough. Whatever your goals in life are, can you name the steps you need to take in order to actually achieve them?

Listen on Apple Podcasts, Google Podcasts, Spotify or copy to your RSS reader.

Transcript Open new window

After you listen

  • To read more about the benefits of planning, investing, and finding a planner you can trust, visit schwab.com/plan.
  • You can also find more information about saving for retirement, including retirement calculators and other helpful tools at schwab.com/planning.
  • To read more about the benefits of planning, investing, and finding a planner you can trust, visit schwab.com/plan.
  • You can also find more information about saving for retirement, including retirement calculators and other helpful tools at schwab.com/planning.

There's clear evidence that the best way to achieve your financial goals is by starting with a plan. Unfortunately, the majority of people do not have a written plan. Why is that? In this episode, Mark Riepe and guest Jullie Strippoli discuss strategies to overcome some of the common mental barriers to getting started with a plan.

  • Read more about Schwab's Modern Wealth Survey, which includes results about how Americans who have a written financial plan feel about reaching their goals.
  • The study "Wealth Accumulation and the Propensity to Plan" shows that similar households often end up with different levels of wealth because of the varying attitudes and skills with which they approach financial planning.
  • Choiceology host Katy Milkman contributed to research about how prompting people to plan can improve follow-through on important tasks.

Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

 

Are you on track to reach your goals?

Should You Care About Rising Interest Rates?

Will rising interest rates affect you personally? Most likely. No need to panic, but best to be aware.

Help Your College Grad Become an Investor

Looking for a meaningful college graduation present? Consider opening up the world of investing.

Do You Need to Appoint a New Family CFO?

How to ensure a smooth transition when your family's chief financial officer is no longer able to serve.