It's World National Financial Planning Day! Why Should You Care?
Sandwiched between National Name Your Car Day and National Cinnamon Roll Day is World Financial Planning Day. Here's how you should celebrate.


OK, as a Certified Financial Planner® professional, I will say it: Happy World Financial Planning Day!
The Financial Standards Planning Board* promotes the day (designated as Oct. 3) to raise awareness about the importance of investor education and protection. But, you know, Financial Planning (capitalizations intentional!) is more than just a day, right? What if I told you it was a lifelong journey?
What is Financial Planning and why should you care?
Investopedia defines Financial Planning as “a comprehensive evaluation of an investor's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.”

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
In other words, it is a plan to help you use what you have to attain the life you want. It is a way of benchmarking and goal setting as you earn, save, invest, give and spend money.
People with Financial Plans know what they have, and they know where they are going. They have peace of mind because their assets and liabilities and income and expenses are all known quantities.
Personal finance can be more complex than it used to be a generation or two ago. Most of us need Financial Plans to have the peace of mind to enjoy our lives.
Sifting through the noise of World Financial Planning Day
While you will see many articles throughout the month of October (also known as Financial Planning Month) that make helpful suggestions on how to handle “the holidays” financially, starting a savings plan and consolidating debt, don’t let them distract you from the big picture. That’s what this month really should be about.
I believe that Financial Planning is about more than what spreadsheets you can create today or where you can move money (or allocations) around this month. Financial Planning is about defining where you want to be financially in three years, five years, 10 years or by the time you are “retirement age” AND defining the path to get there.
How to ‘Celebrate’ This Day
So, my advice to you following this World Financial Planning Day? Just one thing: Reach out to a Certified Financial Planner® professional in your community who shares this long-range view and ask them if they will work with you on a plan.
There is not a single element of our lives that is not affected by financial planning.Like me, many CFP® professionals share a passion for helping our clients plan to achieve their life financial goals. Financial planning is intellectually stimulating, emotionally gratifying and financially rewarding — and it delivers positive societal impact to our community.
On a personal note, I wholeheartedly believe that I am truly fortunate to have found my calling. If I had not discovered this career, I don’t know if my family and community would have enjoyed the freedom and richness of life that a financial plan can offer.
Here are some questions to ask yourself today:
- When do I want to be able to stop working if I want to?
- How much money do I want to have in savings by the time I stop working?
- Who is dependent on me, and how will they be taken care of when I am gone?
- How much money would I need to live with dignity in my golden years?
- How do I define financial independence?
- Am I on track to be living my dream when I no longer need to work?
Financial planning is a lifelong journey. As I always say, don’t measure your self-worth by your net worth. EVERYONE deserves a Financial Plan.
*The Financial Standards Planning Board, Ltd. (FSPB) is the organization that oversees the accreditation for Certified Financial Planner professionals and the “CFP®” distinction that many people in my industry (including yours truly) has at the end of their name.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.
-
The Best FSA or HSA-Eligible Amazon Prime Day Deals You Can Shop Now
Double down on savings by taking advantage of these early Prime Day deals that are FSA or HSA eligible. Save on fitness trackers, air purifiers, baby gear and more.
-
Stock Market Today: It's 'All Sectors Go' Ahead of Independence Day
The resilience trade continues to work, even for sectors and stocks with specific uncertainties.
-
Investing Professionals Agree: Discipline Beats Drama Right Now
Big portfolio adjustments can do more harm than good. Financial experts suggest making thoughtful, strategic moves that fit your long-term goals.
-
'Doing Something' Because of Volatility Can Hurt You: Portfolio Manager Recommends Doing This Instead
Yes, it's hard, but if you tune out the siren song of high-flying sectors, resist acting on impulse and focus on your goals, you and your portfolio could be much better off.
-
Social Security's First Beneficiary Lived to Be 100: Will You?
Ida May Fuller, Social Security's first beneficiary, retired in 1939 and died in 1975. Today, we should all be planning for a retirement that's as long as Ida's.
-
An Investment Strategist Demystifies Direct Indexing: Is It for You?
You've heard of mutual funds and ETFs, but direct indexing may be a new concept ... one that could offer greater flexibility and possible tax savings.
-
Q2 2025 Post-Mortem: Rebound, Risks and Generational Shifts
As the third quarter gets underway, here are some takeaways from the market's second-quarter performance to consider as you make investment decisions.
-
Why Homeowners Should Beware of Tangled Titles
If you're planning to pass down property to your heirs, a 'tangled title' can complicate things. The good news is it can be avoided. Here's how.
-
A Cautionary Tale: Why Older Adults Should Think Twice About Being Landlords
Becoming a landlord late in life can be a risky venture because of potential health issues, cognitive challenges and susceptibility to financial exploitation.
-
Home Equity Evolution: A Fresh Approach to Funding Life's Biggest Needs
Homeowners leverage their home equity through various strategies, such as HELOCs or reverse mortgages. A newer option: Shared equity models. How do those work, and what are the pros and cons?