Everyone Deserves a Financial Plan

When most people hear “financial planning,” they picture wealthy retirees sitting with an advisor, talking about million-dollar portfolios. That image has been so ingrained in our culture that many everyday folks think planning isn’t for them. But here’s the truth: financial planning is simply the process of aligning your money with your life goals. And it’s something everyone can benefit from. Let’s clear up a few of the most common myths I hear when it comes to planning for the future.

Myth #1: “I don’t make enough money to need a financial plan.”This is one of the biggest misconceptions. Planning isn’t about the size of your paycheck—it’s about making the most of what you have. A financial plan can help you stretch your dollars further, pay down debt, build savings, and prepare for the unexpected. Even small steps, started early, can make a big impact over time.

Myth #2: “Financial planners just want to sell me something.”I hear this a lot, and I understand where it comes from. Too often, people have been pitched products before being offered a real plan. True financial planning is not about chasing the latest stock tip or buying insurance you don’t need—it’s about strategy. A good plan looks at your income, expenses, goals, and risks, then creates a roadmap designed for you and your family.

Myth #3: “I’ll get around to it later.”Procrastination is expensive. The longer you wait to start planning, the fewer options you’ll have down the road. Retirement, college tuition, unexpected medical bills—they don’t wait until we’re “ready.” The earlier you begin, even if it’s just with small, consistent steps, the more freedom and peace of mind you’ll have later.

Myth #4: “Planning is only about retirement.”Retirement is a major goal, yes, but financial planning covers so much more. It includes paying off debt, building an emergency fund, protecting your family with insurance, planning for taxes, and even preparing for estate decisions. Think of it as looking at your whole financial life—not just the finish line.

Myth #5: “I can do it all myself.”We live in an age of apps, calculators, and Google searches. These tools are helpful, but they don’t replace a real, personalized strategy. It’s a bit like self-diagnosing with WebMD—you might get close, but an experienced professional can see the big picture, spot blind spots, and give you confidence you’re on the right track.

At the end of the day, financial planning isn’t about numbers—it’s about people. It’s about your goals, your family, your future. And the best time to start? Not tomorrow, not “someday”—but today. If you’re ready to take the first step, start small. Write down your goals. Build a budget. Set aside even a modest emergency fund. And if you’re looking for guidance, find someone you trust to help you put the pieces together.

Because the truth is, everyone deserves a plan.

Securities offered through J.W. Cole Financial, Inc. Member FINRA/SIPCwww.finra.org and www.sipc.orgAdvisory services offered through J.W. Cole Advisors, Inc.J.W. Cole Financial, Inc., J.W. Cole Advisors, Inc., and Fourth Avenue Financial are unaffiliated entities.