You will know your financial plan is working when

Question

Quizplus · Accepted Answer

The best way to measure the success of a financial plan is by monitoring the growth in your net worth each year and ensuring it is on track to meet the goals you have set for yourself. As your net worth increases, you will have more capital available to allocate towards your established goals, whether that be retirement savings or purchasing a new home. While revising your risk tolerance, having sufficient capital, and reaching the highest tax bracket are all relevant factors to consider when evaluating your financial plan, they do not necessarily indicate success on their own without a concomitant increase in your net worth.

You Will Know Your Financial Plan Is Working When