Do You Have a Financial Plan?

Justin Goodhue |

A clear financial plan is essential to reaching your long-term investment goals. While strategy is important, success comes from sticking to the process and staying focused on the plan. In times of market uncertainty, a plan may help you to control your emotions, tune out the noise, and make smart decisions. 

Too often, we see people focus on the short-term ups and downs, forgetting they have little impact on the bigger picture. A market dip caused by an unforeseen event can be concerning, but with time, it's often just a small bump in the road. A solid financial plan keeps that in perspective. It reminds you that short-term results are unpredictable and fleeting - they are out of your control. 

Evidence shows that investors who remain focused on their plan and stay invested are more likely to reach their long-term goals. Even if mistakes are made, a solid financial plan provides a framework to lean upon. No knee-jerk reactions or second-guessing - just a clear assessment of where you are, where you want to be, and how to get you back on track.