Every adult needs a financial plan, no matter how much money you have (or don't have) and how old you are. According to Wikipedia, a financial plan is a "comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans". It's no wonder that the perception is a financial plan is needed only for the wealthy and sophisticated. You need a financial plan to reach your life goals; money is just the tool. So you see, a financial plan is not just some aloof statement with pie charts and annoying buzz words.

Source: Forbes March 31, 2018 14:37 UTC