Carnegie Investment Counsel Blog

Financial Planning - Is It Just a Buzzword?

Posted by Donald L Haisman, CFP® on Jan 6, 2015 1:53:00 PM

Do you know how many buzzwords there are? Just the word “Buzzword” brings up over 6 million results on the Internet.  There is even a Buzzword of the Day.  Dictionary.com defines Buzzword as a word or phrase, often sounding authoritative or technical, that is a vogue term in a particular profession, field of study, popular culture, etc. 

Financial planning has become such a buzzword resulting in over 22 million Internet search results. The term, “Financial Planning” appears quite often in all types of media.  But, what is it?

dream_home_graphicIf we start with the Financial Planning Association website, we get a very short concise, but accurate, definition of financial planning as "Preparing for Life Events.”

The more I thought about it the better I liked this definition. What would be “Life Events?”  Well the list is quite lengthy to include:

Wow!  That includes nearly everyone. That is just the point.  Financial planning IS for everyone. Getting prepared for all those things in life that just happen. 

As with most things in life, the more carefully one prepares; the smoother those “Life Events” likely will unfold.  However, preparing for even a few of those things in my “Life Events” list appears to be very overwhelming.  To the rescue -- the financial planning profession. 

Over three decades ago, those doing true financial planning realized the need for additional specialized education and certification.  The outcome was The College of Financial Planning and the CERTIFIED FINANCIAL PLANNER™, CFP® designation.  The coursework is rigorous and is offered at various universities.  The CFP® designation requires successful completion of required coursework and challenging testing. 

So how do you get started?  Start by organizing your affairs.  This is not as complex as it may seem, thanks to numerous financial planning tools now available on the Internet and from Carnegie Investment Counsel.  Contact us for a set of forms and worksheets to get started.

With the New Year beginning, now is an ideal time to get your financial planning rolling.  In addition, planning now is likely to assist you with your upcoming income tax filing. 

Need some help?  Carnegie Investment Counsel has fee only CFP®’s that can assist you through the process.  Being a registered investment advisor and therefore a fiduciary, Carnegie’s CFP®’s will always make recommendations that are in your best interest.

Free Portfolio Assessment              

Topics: Financial Planning

Donald L Haisman, CFP®

Written by Donald L Haisman, CFP®

Don Haisman serves Carnegie Investment Counsel as the Managing Director of the firm’s Ft. Myers office and is a CERTIFIED FINANCIAL PLANNER™. Don’s investment philosophy is derived from his studies of Modern Portfolio Theory—focusing on building individual client portfolios that maximize profits per unit of investment risk.

    carnegie top 4 things 2021 version-1

    Looking to hire a Financial Advisor?

    Enclosed in our eBook are four questions we recommend you ask any prospective group you review. Plus, you'll learn: 

    • The difference between fiduciary and suitability standards
    • Learn how some advisors may not be required to work in your best interest
    • Be aware of various types of hidden costs
    • The importance of third party custodians
    • The difference between fee-based and fee-only

    Download Now, It's Free

    Recent Posts

    Subscribe here for monthly blog updates!