Finding a Balance in Financial Planning: The Tale of Two Fathers

One father spent freely and didn't save, while the other obsessed over saving. Neither flourished in retirement. Here are four steps to avoid either scenario.

Two older men prepare a meal in a kitchen.
(Image credit: Getty Images)

When it comes to financial planning, finding the right balance between saving for the future and enjoying the present can be a challenge. In my family, I have seen polar opposite approaches to financial planning, with my father and father-in-law taking vastly different paths.

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Chuck Cavanaugh
Head of Financial Planning, Citi U.S. Consumer Wealth Management

Chuck Cavanaugh is the Head of Financial Planning for Citi U.S. Consumer Wealth Management, where he is responsible for leading the financial planning team. The team works with clients to develop and implement financial plans, including estate & trust planning, charitable giving, intergenerational planning, business succession, secured retirement income, risk mitigation and wealth protection.