Financial Planning Week: October 2nd – October 8th

Every year, Financial Planning Week is celebrated to raise awareness about the importance of financial planning, practical financial plans, and working with certified financial planners among American consumers.

“If you’re one of the millions of people in the US who could do with some expert input on your personal finances, take a look at what’s happening during Financial Planning Week,” says Glenn Werner, Vice President of Investments at David Lerner Associates, Inc.

“As the holiday season approaches, along with its associated generous gift-giving expenses, and with the New Year just on the horizon, Financial Planning Month presents an excellent occasion to organize your finances and budgets before life gets too busy.”

Taking the initial step of implementing straightforward financial plans and making informed choices to realize your life’s goals and aspirations is the foundation for gaining true control over your life and experiencing the invaluable peace of mind it brings.

When is Financial Planning Week 2023?

Financial Planning Week in 2023 is scheduled to take place from October 2nd to October 8th. This annual observance provides a unique opportunity to focus on financial well-being and the importance of effective financial planning.

History of Financial Planning Week

The origins of Financial Planning Week can be traced back to a growing need for financial literacy and responsible financial management in the 60s and 70s.

Financial planning has evolved significantly over time. Initially, it revolved around selling limited partnerships until the Tax Reform Act of 1986 changed the landscape.

It then re-emerged with a client-focused approach, pioneered by Richard Averitt III, emphasizing the client’s needs.

Today, there are over 94,000 certified financial planners (CFPs) globally, with 48,000 in the U.S. In an ever-changing economic landscape, individuals and families recognize the vital role that financial planning plays in achieving their goals and securing their futures.

Organizations like the Financial Planning Association (FPA) support CFPs. Modern financial planning encompasses investment, tax, and retirement planning, offering a comprehensive approach to secure financial futures.

Financial Planning Week is an ideal time to proactively manage finances and budgets for a stable future.

Who Gets Involved in Financial Planning Week?

Financial Planning Week is a collaborative effort that engages a diverse range of participants, including:

• Financial Advisors and Planners: Financial professionals actively participate in Financial Planning Week by organizing educational events and workshops and offering pro bono consultations to help individuals and families enhance their financial literacy and develop personalized financial plans.
• Educational Institutions: Schools, colleges, and universities often incorporate financial literacy programs and workshops into their curricula during Financial Planning Week, helping students acquire essential financial skills.
• Government Agencies: Government entities may use this opportunity to launch financial literacy initiatives and provide resources to educate citizens about financial planning, saving, and investing.
• Nonprofit Organizations: Nonprofits dedicated to financial education and empowerment often organize events and outreach programs during Financial Planning Week to serve their communities.
• Media Outlets: Media outlets may feature articles, interviews, and segments focused on financial planning and the importance of financial literacy.
• Individuals and Families: People from all walks of life are encouraged to participate by attending workshops, seeking financial advice, and taking proactive steps to enhance their financial well-being.

Financial Planning Week Participation Ideas

Participating in Financial Planning Week can significantly impact your financial future.

Here are some ideas for getting involved:

1. Financial Workshops: Attend financial planning workshops and seminars in your area or online to gain insights into budgeting, investing, retirement planning, and debt management.
2. Consult a Financial Advisor: Your financial planner has the potential to directly affect your current and future financial well-being. Schedule a consultation with a certified financial planner or advisor to assess your financial situation and create a personalized financial plan.
3. Review Your Financial Goals: Take time to review and refine your financial goals, whether they involve buying a home, saving for education, or preparing for retirement.
4. Budgeting Challenge: Challenge yourself to create or revisit your budget, identifying areas where you can save and invest more effectively.
5. Financial Education: Explore online resources, books, and articles on financial planning to enhance your financial literacy.
6. Share Your Knowledge: If you have expertise in financial planning, consider volunteering to lead a financial literacy workshop or webinar for your community.
7. Family Financial Discussions: Initiate conversations about financial planning with your family members, educating and involving them in the process.
8. Set Up Automatic Savings: Establish automatic transfers to your savings or investment accounts to ensure consistent financial progress.
9. Continue the Conversation on Social Media: Follow the Financial Planning Week conversations on social media using the hashtag #FinancialPlanningWeek2023.

Conclusion

Financial Planning Week is a reminder that financial well-being is attainable through education, careful planning, and informed decision-making.

By participating in this observance, you embark on a journey to greater financial security, setting the stage for a brighter and more prosperous future.

Remember, your financial goals are within reach, and financial planning is the roadmap to get there.

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IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.