According to Schwab’s 2021 Modern Wealth Survey, those with a financial plan are more likely than those without one to pay their bills on time and save each month. So, what does a good financial plan look like?
While there are many ways to go about developing a plan—do it yourself, use a robo-advisor, work with a financial planner, or a combination thereof—Schwab has identified the eight critical components every plan should include, regardless of the method used to create it.