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Thursday
Jul252013

Keys to Weight Loss Can be Keys to a Successful Financial Plan 

 For the last several months, I have been watching my weight with the goal of improving my long-term health.  I have been following the Weight Watchers plan, which has helped me to create some solid habits for weight loss success. 

These same healthy habits can help individuals achieve financial planning success:

  1. Track – Much like dieters should track what they eat, it is important for individuals to track where they spend; this helps to identify areas where overspending might be occurring.
  2. Maintain Discipline – Like dieters need to stick to a plan, individuals with long-term financial goals should have a plan for saving and be committed to it.
  3. Splurge Once in a While – Like a dieter who deprives him or herself for too long and then binges, individuals that have been disciplined at savings should occasionally spend on something fun to enjoy the present … but as a reward rather than a binge.
  4. Be Accountable – Like a dieter should weigh in regularly and be honest with the results, individuals should meet with their financial planner at least annually to check progress and to make any needed adjustments to the plan.

If you have already formed these habits for your financial life, don’t be afraid to meet with your financial planner to check the scale.

Sandra Adams, CFP® is a Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In 2012 and 2013, Sandy was named to the Five Star Wealth Managers list in Detroit Hour magazine. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.


Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constituteinvestment advice.  Any opinions are those of Center for Financial Planning, Inc., and not necessarily those of RJFS or Raymond James.