I have learned that I do my best at something when I have a plan and I practice. To start you have to have a philosophy, an idea or belief about your financial plan that you live by.

When I sat for the Chartered Financial Analyst examination, there are three, I would get the syllabus, practice questions and practice exams and lay them out and create a calendar of what and when I was going to complete each task. My philosophy was that if they recommend studying 250 hours for the exam, then I should plan from January to June to get in 250 hours of studying with leeway in case something comes up. And that is what I did. Each week I would whip out my agenda and follow what I needed to get accomplished that week.

Having a plan is crucial. What ever we do. It is especially important when it comes to our personal finances.

There is a great deal of leeway in choosing a financial plan and implementing it.

How can you find a plan that is right for you?

By James Cornehlsen, CFA

Please read the full story posted on the Paladin Registry here.

To learn more about James, view his Paladin Registry profile.

Tags: financial plan, financial planning, retirement