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Just as a prescription is designed to treat specific medical symptoms, each financial tactic or strategy is designed to manage specific risks or opportunities. But the same prescription, tactic, or strategy also may produce unintended side effects. In the medical field, these are called “counter indications.” In the financial world, we call it confusion, poor planning and costly mistakes.
Having a vague but real sense of this looming risk, we can be left with indecision (analysis paralysis), misunderstanding, or misdirection. Like a maze, you’re just not completely sure where to turn. If we hope to make a bigger and better impact with our wealth, we need both clarity and confidence that we’re making sound financial decisions. We need to understand the complete picture – advantages, disadvantages, and how each decision, strategy, and technique operates in connection with all of the other components of the plan.
Suddenly, that complex maze becomes simple to navigate, ultimately leading us to our desired destination. This is the power of comprehensive and integrated planning.