Why Should You Have a Financial Plan?

Why Should You Have a Financial Plan?

Core Facts

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October is Financial Planning Month, and your attention should be firmly on your finances. The fact of the matter is that Americans are not doing enough when it comes to planning their finances. 

Only 31% of decision makers in families feel that a comprehensive financial plan has been put in place. This includes planning on their own or with professional help, according to a  2012 Household Financial Planning Survey conducted by the Certified Financial Planner Board of Standards.

When it comes to making sure you have a firm handle on where your money is being spent or your financial goals, there is nothing better than a comprehensive plan. Getting professional help can help make certain that the plan is sound, and all the information is correct. 

The Bureau of Labor Statistics describes a personal financial advisor as someone who can provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.

A shocking 50% of Americans have less than one month’s income saved. This is an alarming statistic as you should have at least six months income saved, just in case you need it. You never know what might happen in life, and if you get laid off or have an emergency expense, whether it is a medical issue or another type of unforeseen bill, you could get into trouble. 

Ensuring that your financial plan is in place means your future is in a more secure place, and both you and your loved ones should be able to rest easier in the knowledge that you are prepared. 




Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Member FINRA & SIPC


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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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