Financial Planning is not dissimilar from planning for any extended journey. With certain objectives in mind, we make plans based on the information we have, and the obstacles we already know we must overcome. However, as any experienced traveler will tell you, there are often unforeseen events or obstacles we encounter that require we update our plan to account for new information.
In the below article, Jim Parker of Dimensional Fund Advisors discusses the similarities between embarking on a financial journey and sailing around the world.
Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax or legal advice, a recommendation for purchase or sale of any security, or investment advisory services. I encourage you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Matthew Crum, and all rights are reserved. Read the full Disclaimer