“Currently, less than 5% of Americans have a written financial plan, but those with a plan are 250% more likely to achieve their financial goals.”
This is an interesting — and somewhat alarming — statistic. I received it from the folks at SimpliFi. So I checked out the site and was intrigued by what I saw. First of all, SimpliFi is a free online financial planning service. It takes you through the steps of creating your own financial plan, and helps you monitor your goals, and how close you are to achieving them.
SimpliFi also can help you figure out where the trouble spots are in your financial life, and even provide investment advice. As you might expect, the site claims that using its service is the same as meeting with a financial planner. The modeling engine used is the same thing used by most of the certified financial advisers out there. SimpliFi is actually registered with the SEC as an Investment Adviser.
While I’m not sure that SimpliFi really would replace a financial planning meeting in person, I think that for the motivated do-it-yourselfer this is a great personal finance tool. It is an excellent way to get a visual on where you are, and where you want to go. And it can provide some guidance to you as you work to achieve your financial goals.