Forbes Magazine interviewed Jim Bell, CFP® for the March 26, 2018 article, “Why Successful Investors Create a Financial Plan”. He is quoted in this excerpt from Adam Sarhan’s article:
Investors who take the time to create a financial plan tend to make more informed investment decisions because their decisions are aligned with their objectives. This way they don’t just “wing it” and get hurt when the market falls. I spoke to Jim Bell, CFP®, President & Founder, Bell Investment Advisors with $500 million under management; he told me, “Without a plan, investors and their advisors don’t know what they are doing. They don’t know what their savings rate and average investment return need to be to live a good life to the very end. They don’t know how to determine their optimal investment strategy or whether they should buy long-term care insurance, and they don’t know the consequences of other financial decisions. They don’t know when they can retire or change their work schedule or change their income.”
You can read the full article here: bit.ly/ForbesBell