Rethinking Financial Planning―A Critique


Financial planning is a critical part of every major life event: starting a family, buying a home and saving for retirement. The current financial planning process has many flaws that prevent it from equipping people with the tools they need to manage their finances. This post will provide an overview of these flaws and propose an alternative approach to financial planning states Vincent Camarda.

As you embark on the process of building wealth, there are many factors to consider. What exactly is wealth? How can you use it to your advantage in life? Is there a way to make money without having to work a job? And how do you go about getting more money in the first place?

These are just some of the questions that will be answered in this article. We’ll explore common misconceptions about wealth and how they affect our financial decisions, as well as explore new ways to view our world through a lens that allows us all access to financial prosperity through an approach known as rethinking financial planning (RFP).

The Problem with Financial Planning

  • Financial planning is not a science.
  • Financial planning is not a one size fits all.
  • Financial planning is not a one time event.
  • Financial planning is not a one person job.

What is Wealth?

If you’re asking yourself, “But what exactly is wealth?” the answer may surprise you. Wealth is not just about money or material possessions—it’s also about living the life you want. In fact, when it comes to financial planning, we often overlook this crucial part of our lives: our values and how they affect our spending habits and goals.

Building Wealth

To build wealth, the author suggests you save more and invest wisely. This is good advice, but it’s also the very first thing you hear when you open a book on financial planning or start searching for investment advice online. It’s one of those things that everyone knows has to be done but few people actually do—until they’re forced to by circumstances such as losing their job or having a baby. The article says that investing should be done with a long-term perspective in mind; however, it doesn’t provide any examples of how people can do this (or even why).

Financial Stress and Family Conflicts

Financial stress can create family conflicts. This is commonly seen when money is tight and one partner feels that their needs are not being met by the other partner. Financial stress is often a symptom of other problems that need to be addressed, such as:

  • Psychological stress and anxiety about money
  • Inability to communicate effectively about finances
  • Lack of trust in each other or the relationship


Financial planning is a limited tool, but it can still be useful. Financial planners are often underappreciated, and their work can seem like an easy job. But the truth is that financial planning is hard work and requires constant research to stay on top of changing regulations and market trends. The key takeaway from this article should be that financial planning isn’t just about creating a plan for your finances; it’s also about creating a plan for your life as well!

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