Nothing says “I love you” more than announcing to your spouse, “Darling, I think it’s time we created a financial plan”. These words rank right up there with “By the way, you received your AARP card in the mail today” or “Your doctor called, it’s time for a colonoscopy.” In the mind of the spontaneous and adventurous, making a plan, especially a financial plan, is like draining the water from the Fountain of Youth. Planning forces us to “grow up.”  For some, it symbolizes aging. That is the common misconception of those who have never created a financial plan. In reality, planning creates more freedom and spontaneity.

A financial plan typically encompasses several key areas: Current Financial Condition; Cash Flow Planning and Management; Investment and Insurance Planning; College Funding; Retirement Planning; and Income and Estate Tax Planning.

A good financial plan integrates all the pertinent financial aspects of your life and marries them with your goals and values. A plan shows you where you are, where you want to go and how to build a bridge to get there, while protecting your loved ones. A personal financial plan is tailored to your unique goals and dreams and contains actionable recommendations. For the adventurous, planning may seem like walking in a straight line with guardrails on both sides. Too boring, too confining. It’s not. Life does not always work out the way we visualize so the plan must be fluid not rigid. You mush track progress along the way and make changes when your life or your goals change.

Planning is more like sailing. Imagine you set sail from America and your goal is the western front of Spain. You have maps and charts but storms brew. Pirates appear. You have to change course to reach your goal. You have the freedom to change course because you know your destination. You don’t have to forfeit the adventure because you have life jackets and extra food aboard for emergencies.

Financial planning can evoke strong emotions but planning does not erase your youth overnight. Implementing a plan provides the opposite- a compass to continue your adventures. Without a plan, the adventure may end abruptly, even devastatingly. So when your partner says, “I think we need a plan”, he or she really is saying “I love you.” Let the adventures continue.

Prior to investing, you should consult a financial advisor and read all available information. The examples given are hypothetical, for illustrative purposes only. The product features mentioned must be sold by prospectus and carry investment risk. Investment advisory services offered through Verde Wealth Group, LLC, a state registered investment advisor. Securities offered through ValMark Securities, Inc. Member FINRA, SIPC. 130 Springside Drive, Suite 300, Akron, Ohio 44333–2431. 1–800-765‑5201. Verde Wealth Group, LLC is a separate entity from ValMark Securities, Inc. © 2016 Verde Wealth Group, LLC. All rights reserved. This article was initially published February 2012.