Is It Worth Having A Financial Plan If You Are A High-Net-Worth Individual?
A financial plan is often associated with ensuring that your retirement will be sustainable and free of financial shortfalls. If you are a high-net-worth individual or part of a high-net-worth family and are not concerned about outliving your money and running into deficits in retirement, you may question whether the financial planning process is a valuable exercise.
While the sustainability of retirement may not be a concern, a comprehensive financial plan can absolutely add meaningful value beyond simply confirming that wealth is sufficient for your retirement needs. This article highlights 3 key areas where having a financial plan can be significantly meaningful and impactful for high-net-worth individuals and families.