I view investments as the fuel one uses to get you through to their financial goals — whatever they may be. For example, how do you know if your financial goals are realistic or not ... ?
Without a financial plan that’s integrated with your investment portfolio, you can’t know how well positioned you are to ride through periods of turbulence or not.
Ultimately, a financial plan that is regularly updated can help you minimize the risk of outliving your assets ... a solid financial plan can give you “peace of mind” when markets hit the skids. A solid financial plan can tell you if you’re in good shape to afford a second home, buy into a retirement community, cover spiraling health care costs, provide financial support to your adult children or cover your other goals and dreams.
excerpted from a January 28, 2016 article, titled 'Overwhelmed by Market Turmoil?' that appeared in FORBES: