Produced by: BusinessToday Desk
Most people don’t fail financially because they’re reckless — they fail because they don’t plan. A clear money roadmap isn’t optional; it’s the backbone of long-term security. Without one, even savers with multiple accounts and investments risk drifting aimlessly, unsure what their assets are doing or where they’re heading.
From stray SIPs to forgotten PPFs, disorganization can quietly erode your financial progress. Experts like CFP Lawrence Sprung note that uncoordinated investing often leads to inefficiency, duplication, and poor goal tracking — a classic case of working hard but not smart.
In finance, too many cooks spoil the pot. Many believe multiple advisers mean “diversified wisdom,” but in truth, conflicting guidance can sink your plan. “It’s like sailing with two captains,” says Sprung — you’ll drift in circles unless one trusted adviser steers the ship.
All advisers aren’t created equal. Those with fiduciary responsibility are legally bound to act in your best interest — not their commission’s. Always ask: “Are you a fiduciary?” before handing over your hard-earned money.
The secret ingredient of wealth isn’t luck — it’s time. Start saving early, and compound interest turns modest contributions into exponential growth. Wait too long, and you’ll spend decades playing catch-up.
Your 20s aren’t too early — they’re your golden runway. Fewer responsibilities mean you can save more aggressively. As Sprung says, “Income grows, but so do obligations.” Start before they pile up.
The “I’ll start when I earn more” mindset is financial quicksand. Every month you delay, you lose the one resource money can’t buy back — time. Start small, stay consistent, and let compounding do the heavy lifting.
Half of Americans nearing retirement don’t think they have enough saved. The culprit? Lack of clarity, not capability. Regularly reviewing your plan turns retirement from a dream into a deadline you can actually meet.
Money isn’t just about hoarding — it’s about living. Sprung’s philosophy: “Find joy now and later.” The smartest financial plans are the ones that fund both your present passions and your future peace.