Why Should you have a Financial Plan?

Financial Plan e

Without counsel plans fail, but with many advisers they succeed.” Proverbs 15:22

I am a Financial Planner, so yes, I will persuade you why you should have a strategy to handle your finances and prepare for retirement. I will also tell you why it is essential to have a good insurance policy for your family and business. If I did not, I would not be doing my job. However, allow me to speak to you as a pastor and one who has been at the side of grieving families more times than I can count. And, I have been an Executor of people’s estates, both big and small many times too. Here, I am not going to talk about loss in the relational side; rather, in the monetary side.

Most of those families I consoled did not have proper insurance at their spouse’s death. And of the two times I buried both parents, there was nothing for their children who were still young and in school. Thus, the children had to go with relatives who were not equipped to care for them. Most of the surviving spouses, usually the widow did not have the retirement income they were expecting, and some had to go back to work. Many times, there was no insurance at all, or they relied on the group term plans through their employer that never paid out. To many stipulations. Or they figured, “well, God will protect me,” yet in His Word, He tells us to be prepared. As, insurance is not a lack of faith (Genesis 6:21; Proverbs 6:6-8; Proverbs 13:22; Proverbs 15:22; Ezekiel 38:7; Matthew 7:24-25; Ephesians 5:25; 1 Timothy 5:8).

This tragedy is all on top of misfortune that could have easily been prevented for as little a week’s worth of coffee at that coffee place we all like.

On top of not having insurance, there was very little thought that went into budgeting or retirement. There was no savings plan or how to best use one’s moneys. Then, there were huge amounts of bad debt like credit cards and car loans whose balance was far greater than the car’s value and so forth. Then, there was the business where there was no agreement on how to transfer or buy out the partner. All met with disaster when there is good affordable insurance for that too, that was never sought or even known about.

Financial Plan f

You need to have a plan. If you live in tornado alley, you have a plan where to go and are prepared, if not you can die. I live in earthquake country; we have a plan, like extra food, water, batteries and the various essentials. In fact, after the big storm of December of 2011, where our power was off for two weeks.

We were prepared. Yet, many of our neighbors were not prepared, as the unexpected will hit unexpectedly.  

A good financial plan involves setting goals to tell your money what to do. It is about your budgeting, cash flow, debts, savings, investments, tax planning, wise spending, insurance and retirement. In so doing, a good financial plan gives you the strategy which will alleviate stress and help you make better financial decisions.

We can’t prepare for everything, but we can prepare for retirement and have a good workable budget. In so doing, we all can engage in credit management, insurance, emergency savings and have a financial plan. By the way, this is not just for the 1%, it is for everyone who wants to be a wise steward with what God has entrusted you with!

Financial Plan c

Allow me to help you be prepared and take advantage of my education, experience, knowledge, the immense resources I have access too, and the twenty, hundred plus year old companies I represent. I am here to help you!

A good person leaves an inheritance for their children’s children…” Proverbs 13:22

Dr. Richard Krejcir is a licensed and experienced Financial Consultant with over thirty years of experience. He has worked for major banks, insurance companies, nonprofits, and families too. He is also an author, pastor, Special Ed Teacher, and financial blogger and holds a doctorate in Stewardship.


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