I've got to be blunt. Your financial success depends on it.
Wall Street is feeding you a narrative that's fatally, dangerously flawed when it comes to financial planning.
They make the assumption that you're going to live this way or that and, in doing so, produce a whole bunch of fancy charts, full of calculations intended to show you how much you need to save to meet their projections.
The hope is, of course, that you'll become a valued, or should I say valuable, client – meaning you're going to generate tons of commissions to line their pockets for having prepared a deep look into your financial affairs.
The reality is very different.
Those same fancy-pants charts – which, by the way, can cost you a "planning fee" ranging from $100 to several thousand dollars – usually have the opposite impact: People realize they're so far from meeting their "goals" that they give up without even trying.
I've never liked that, but then again, I've never played by the rules, either.