With all the rumblings today about the economy being in a rather volatile and unsure position, it is more important than ever to have a financial plan in hand. Why? Because you are trying to figure out the direction of your money while markets slide are all around you. Not an easy task. And to be sure, everybody and his dog have an opinion on what you should do.
What many of the top financial planners will tell you is that more people than you care to realize move their money based upon tips, or what someone else has to say should be done. You could probably do better simply throwing a dart at the financial pages and investing based upon what it hits. Actually, a number of years ago, there was a test conducted of comparing the advice of a half dozen stock brokers and an average Joe simply pasting the financial pages against the wall and throwing darts and investing in the companies hit. So, in effect, it was the experts with their recommended portfolios against the novice in a pin-the-tail-on-the-donkey scene.
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