CHAPTER 3
THE POWER OF A PLAN
‘Good fortune is what happens when opportunity meets with planning.’
Thomas Edison
I have already explained the importance of setting clear goals, developing financial planning policies and understanding your financial personality and risk profile. To develop a successful wealth plan, you need to put these goals into a wider context and review your overall financial position both as it is today and how it might be under various scenarios throughout the rest of your lifetime.
A good wealth plan should include the following elements:
- where you want to go – detailing your financial planning policies, goals, preferences, values and timescales
- where you are today – your current financial resources
- where you might ...
Get The Financial Times Guide to Wealth Management, 2nd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
