​5 reasons having a financial plan can give you some peace of mind in days like these 

Building a robust financial plan means building in a margin of safety to ensure you plan for the things you cannot controlPublished Feb 12, 2025  •  Last updated 32 minutes ago  •  4 minute read Join the conversation Having a plan does not ensure we won’t face challenges along the way, but a financial plan empowers you with clarity, control and confidence while providing a roadmap to financial freedom and peace of mind, writes Chantal McNeily. Photo by Akarawut Lohachareonvanich/Getty Images filesReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.By Chantal McNeilyArticle contentArticle contentI analyzed every decision when I was younger. From the insignificant decisions to the big life decisions, I performed an intricate game of mental gymnastics, analyzing every permutation and combination of potential outcomes ad nauseam before moving forward.Analyzing the potential risks, both positive and negative, provided me peace of mind and a sense of control. I felt confident that I was prepared regardless of the outcome. At points in my life, I viewed this level of analysis as a weakness, but now I see it as a strength, especially in times of unrest such as we are in now.Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below. View more offersArticle contentThe skills developed over a lifetime have enabled me to remain calm in times of uncertainty, prepare for a multitude of potential outcomes and have the confidence to know my clients will be “OK.”The one universal truth of life is that the only constant is change. There is a lot of uncertainty in the world and uncertainty causes anxiety. Nationwide, 61 per cent of wealthy Canadians cite achieving or maintaining their retirement plans as an area of concern.Achieving our desired financial outcome relies on accepting that a large portion of the risks we face as investors are out of our control.So, what can we do to instill peace of mind?Having a financial plan provides clarity, control and confidence about your financial future. Money is one of the most significant sources of stress, and the uncertainty about managing it can feel overwhelming.A financial plan acts as a roadmap, helping you navigate your finances with purpose and clarity. In essence, a financial plan is not just a technical tool; it’s a psychological anchor that helps prevent you from making short-term emotional decisions that have significant long-term implications.Top StoriesGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.We encountered an issue signing you up. Please try againArticle contentAdvertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentAs Morgan Housel indicated in his book The Psycho