The One-Page Financial Plan by Carl Richards

Carl Richards is author of the weekly Sketch Guy column in the New York Times, where he tackles financial topics with a straight forward and easy to understand delivery…using nothing more than a Sharpie and a napkin!

The point of a one-page financial plan is to have a guiding light to keep you on track with your long-term goals and values. To create a one-page plan, you need to first determine why money is important to you in the first place. Richards suggests to ask yourself, “Why is money really important to me?” Then, determine the top three goals that will support your “why.”

As an example, the author provides the one-page financial plan that he and his wife created:

Why is money really important to us?
• Time with family doing things we love!

What are the top three financial goals that will support your “why?”
1. Fully fund all retirement accounts each year.
2. Fund kids’ education account every year.
3. Save for house.

Will a one-page financial plan solve all of your financial headaches? Of course not! But at SimpliFi, we’re fans of putting your effort where it will make the most impact.

In preparing for retirement, or reaching for any financial goal, it is important to be clear on why you want to achieve the goal in the first place. And then focusing on the steps that need to be taken in order to reach the outcome you’re striving for. In that vein, this book can be a great resource.