Why Financial Plans Lead to Better Outcomes

According to Charles Schwab’s 2019 Modern Wealth Survey, only 28% of Americans have a written financial plan. It’s no wonder that year after year, we see statistics illustrating how ill-prepared many folks are for retirement—many aren’t even taking the first step.

In our view, having a financial plan opens the door to having good money habits in general. 56% of people with financial plans felt “very confident” they would ultimately reach their financial goals, while only 17% of people without financial plans felt the same.

Financial plans lead to better outcomes.