According to a survey released by Certified Financial Planner Board of Standards Inc., if given one hour with a financial planner, people would take advantage of it—focusing on retirement and budget planning. Thirty-six percent of Americans reported working with a financial planner or adviser.
The survey revealed that more than four in five (86%) respondents agree with the statement, “Everyone should have a financial plan. Even if you have very little money, it is good to know in advance how you will spend it and the best means of growing what you have.”
Seventy-nine percent of respondents claimed to have a financial plan in place. The majority of respondents, however, do not have an official, written document. Forty-six percent said they just have a plan in their head, and 11% only have notes or ideas written down. Forty-two percent of respondents said they had an official written plan.