Lost in the Woods? Solution: a road map.
A review is not just looking at where we are. That is like being lost in the woods and simply looking at the hills, trees, and streams to see where we are. This “landscape review” is akin to going through your mental checklist of what holdings and accounts you currently have. But, how does that help getting out of the woods since by definition, we are lost and don’t know where what we see is!
There is one difference in my analogy. We do know where we are financially (only through the mental checklist approach); what we don’t know is how to connect where we are today with where we want to be and when we that to be there financially.
That is the purpose of a financial review … to connect the two; where you are financially today to where you want to get to and when you want to get there – to develop a road map.