|
|
|
Common Mistakes in Financial Planning Approach
|
|
|
|
|
|
The following are some of the
common mistakes
made by consumers in their approach towards Financial Planning.
|
|
|
|
X
Don't set measurable goals. |
|
|
|
X
Make a financial decision without understanding its affect on other financial issues. |
|
|
|
X
Confuse Financial Planning with investing. |
|
|
|
X
Neglect to re-evaluate their Financial Plan periodically. |
|
|
|
X
Think that Financial Planning is only for the wealthy. |
|
|
|
X
Think that Financial Planning is for when they get older. |
|
|
|
X
Think that Financial Planning is the same as retirement planning. |
|
|
|
X
Wait until a money crisis to begin Financial Planning. |
|
|
|
X
Expect unrealistic returns on investments. |
|
|
|
X
Think that using a Financial Planner means losing control. |
|
|
|
X
Believe that Financial Planning is primarily tax planning. |
|
|