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Planning is everything; Plans are irrelevant

“Planning is everything; Plans are irrelevant”

- Dwight D. Eisenhower

It’s amazing how quickly life can change.  In the blink of an eye, your kids are grown, you’re retired or the entire world shifts. People have used everything from science, historical records, experience to gut feelings to predict the future.  Sometimes someone gets it right.   A global pandemic has been predicted before, maybe not this particular pandemic.  Scientists are currently charting and studying, trying to predict what will happen with Covid-19.  We see new reports, plans and guidelines based on what the experts find.  The guidelines evolve; they change shape constantly. 

Likewise, there are analysts that try to predict what will happen in the markets so that they can plan accordingly.  Their extensive research spans across history and the globe.  We’ve learned over time how to use this research to help us plan our investments accordingly.  The facts are there – you remember the old adage – History repeats itself.  Today is different than yesterday, this downturn in the market was caused by something different than the last.  If you pay attention to the recovery rate and the history of the markets, you can learn a lot about how similar each situation can be.   The lessons we learn along the way help us to develop the research and analyze what has worked in the past to help shape our future.   Notice the word “help”.  It’s not about whether the original predication was right or wrong or how far off the mark it was – it’s being able to adapt to the new changes.  More importantly, it’s the ability to evolve when the change was not predicted.  This ability only materializes in the planning. 

What is the process of planning? Google it – go ahead…  I’ll wait.

I bet you find words like tactical, operating, project, budget, future and objectives.  There will be steps for you to follow to create the perfect plan, videos and graphs to reference so that you can make the perfect preparations. 

It’s the process of planning that allows a person the ability to adapt to our ever changing lives. The predictions or plans are not what is the most important part of anyone’s life, it’s the planning process. The end result – a plan that will allow for the unpredictability of our future.  In the plan you may find that you can adapt to changes in your life including an unexpected drop in income.   We have clients that have been faced with unexpected turns and bends in their journey to retirement and beyond.  During the planning process you want to be sure that although not planned for, you are still in a position to succeed, you want to be sure that you can adapt. 

Our MASTERPLAN process helps guide our clients into their best and most successful retirement.  Planning and adaptability is an important step to any successful financial portfolio. 

If you are interested in getting started or learning how our MASTERPLAN process might help you, let me know. Our goal is to help provide a clear path to planning and your financial future.

DISCLAIMER: Past performance does not predict future results. This report is based on data obtained from sources we believe to be reliable. Hefren-Tillotson does not, nor any other party, guarantee the accuracy or completeness of this report or make any warranties regarding results obtained from its usage. All opinions and estimates included in this report constitute the firms judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation to buy or sell the securities herein mentioned.
Hefren-Tillotson Inc. is a leading diversified financial services firm providing investment and retirement plan management and comprehensive, financial planning through MASTERPLAN® for individuals and businesses. The firm’s wealth management services are administered by Certified Financial Planner (CFP) professionals, Chartered Financial Analyst (CFA) Charter holders, attorneys, Chartered Life Underwriters, and CPA/PFS’s. Hefren-Tillotson offers corporate services including 401(k) retirement planning, executive financial counseling, fiduciary reviews and workplace financial planning seminars. Founded in 1948, the firm is headquartered in Pittsburgh and has offices located in Pittsburgh, Butler, Greensburg, North Hills, and South Hills. MEMBER SIPC.