This video was recorded on January 15, 2022.
Tom Gardner: There’s almost a dark valley we walk through as adults from the day we graduate high school and don’t realize we’re the CEO of our financial lives forever, until the moment where we have kids and are starting to realize, wow, it’s not just me, I have responsibilities and I need to have a plan.
Chris Hill: I’m Chris Hill, and that was Motley Fool CEO Tom Gardner. Think about the time you spent planning your last vacation. Now ask yourself how much time have you spent planning your financial future? In this episode of Motley Fool Money, financial planning expert Amanda Kish joins Tom Gardner to discuss one of the most important and underappreciated parts of our investing journeys, building a financial plan. . They talk about key steps you can take and how to get started.
Tom Gardner: Imagine that you have decided to go camping with your family or a couple of friends. Suppose you have chosen Grand Teton National Park in Jackson, Wyoming. It’s a sunny April day, you park your car and find yourself at the Craig Thomas Discovery and Visitor Center. You have the whole week ahead of you. You ascend Taggart Lake Trail with the dream of seeing the world from a Grand Teton peak over 13,000 feet in the air. There is a problem; you have no plan, no maps, no tents, no pepper spray. You have two bottles of water. You’re in flip flops, you’ve got a Frisbee, but there’s no reliable cell service. Oh, and in April, in Grand Teton National Park, at night, the temperature drops below zero. You probably wouldn’t want to take this trip. But unfortunately, that’s how many people start their investment journey, without a plan. That’s why, in our second Saturday class, we invited All Fools Universally’s Financial Planning Team Leader, Amanda Kish. Amanda, welcome.