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Do Plans Ever Go As Planned?

Life has an uncanny way of not always going as planned. If you remember, a few weeks ago, we decided to hire a social media manager to help us stay better connected to our clients and following.

It has been an exciting endeavor so far! As I explained in a previous blog post we had a plan and process for hiring and onboarding this new team member. The process included meticulously reviewing applications, grading project based skills assessments, conducting interviews, and more. In the end, we were left with three potential candidates who showed promise. That is where the story left off, now for an update.

We ended up hiring two out of the three candidates. One for the social media manager role and the other for a position that had nothing to do with social media management, but we hired her because she showed an exceptional level of organization and passion to work. We have now spent the last two weeks training, onboarding and planning out projects for each of them…

But, as they say, "life happens when you're busy making plans." Exactly two weeks into onboarding, our newly hired social media manager resigned due to unforeseen medical reasons. It was a curveball we hadn't anticipated. Now, you might be wondering what this has to do with personal finance. Well, bear with me.

In my world of personal finance, there is a big emphasis on having a financial plan, but the value of having a plan might not be what you think… Sometimes the plan itself is not very valuable (sometimes it is very valuable). See, what’s overlooked about having a plan is that you are forced to go through a planning process. The process is where the value lies and is what equips you with the clarity and ability to handle whatever comes your way. Putting together a plan is about taking action so you are prepared when things don’t go to plan.

Just because hiring a social media manager has not gone as planned, it doesn't devalue having the plan itself. Having the plan in place has still helped us take meaningful action, make progress and pivot when necessary.

A personal financial plan is no different. Life will throw you curveballs, you will be taken by surprise, dare I say, you will be blindsided at some point. Having a plan that is aligned with your greater vision and rooted in your strengths, weaknesses, opportunities and threats can be one of the most beneficial things you can do for your financial sanity.

I have said it before and I will say it again, your personal finances should be treated like a business. Just as we had a plan to hire a new team member, you should have a plan that outlines where you are going and how you will get there from a financial perspective. This plan prepares you for unexpected financial setbacks or changes. It gets your thinking and taking action. One of the first immediate benefits having a plan provides is an increase in your confidence and feeling of security.

The kicker in this story, the candidate we didn't select for the social media manager role turned out to be a perfect fit for another key position within our team (and so far she has been crushing it)! The point here is that life is unpredictable and the more prepared you are to navigate the uncertainty the better you can turn negatives into positives.

In your financial journey, the path may not always be linear, but having a plan in place can make all the difference. It provides you with the confidence and flexibility to adapt to life's twists and turns and can help you remain on target even when things don’t go as planned.

Thank you for being part of the Kālā Capital community, where we understand that the power of planning extends far beyond numbers. It's about being prepared for whatever life throws our way.

If you need to update your financial plan, please reach out. It’s what we do.


Ethan- Your Financial Advocate

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