A One-Time Financial Plan: Valuable or Dangerous?

Financial planning is not a set-it-and-forget-it exercise. While a one-time plan can help in the moment, ongoing financial planning rolls with your changes.

A financial adviser shakes hands across her desk with a client couple.
(Image credit: Getty Images)

Money flows through almost every aspect of your life. Whenever your job, your family or your property changes, for better or worse, your financial picture changes. That means your financial plan has to continually evolve.

That begs the question, what does a financial plan actually do for you? Do you even need a financial plan? Or, do you need financial planning?

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Pam Krueger
Founder, Wealthramp

With more than 25 years in investor advocacy, Pam Krueger is the founder and CEO of Wealthramp, an SEC-registered adviser matching platform that connects consumers with rigorously vetted and qualified fee-only financial advisers. She is also the creator and co-host of the award-winning MoneyTrack investor-education TV series, seen nationally on PBS, and Friends Talk Money podcast.