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1-Page Financial Plan.


Okay, I admit it's a bit of a stretch to condense an entire, meaningful financial plan to 1 page, but I think I'm fairly close with my 1-Page Personal Finance Snapshot.

As I mentioned in my last couple posts I've long been a fan of "shorter is better". I'm not going to re-read a 25-page financial plan so I'm pretty sure my clients, who might not have as great an interest in these issues, won't either. And for some financial planners, 25 pages is just getting started, believe me!


I wanted to provide as much information as I could about a client's personal financial situation and keep it to 1 page. Overall net worth at the very top, followed in a fairly logical order by the main areas of personal finance, with simple stoplight indicators along the way to show the status of each item (red means action is needed, yellow means could be better, green is on target).


Certainly there's a lot of conversation and additional explanation that's provided verbally to go along with this, but I think it's a pretty neat tool that contains kind of an executive summary of the key parts of one's personal financial situation. My goal would be to update this about annually for clients to help show them the progress they're making.


As my 7th grade math teacher would say, Keep It Simple Stupid.