What Makes a Financial Plan Fit Your Life?

19 snips

Nov 10, 2025

In this discussion with Stephanie Shadel, a senior wealth advisor at Schwab with over 15 years in guiding investors, the conversation dives into the essentials of crafting a meaningful financial plan. They explore the importance of setting personal goals and the common psychological barriers people face in initiating financial planning. Stephanie shares insights on the need for flexibility in financial plans to adapt to life changes. She highlights the emotional challenges in assessing current finances and emphasizes prioritizing goals as a pathway to success.

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ADVICE

Start With Prioritized Goals

Identify and prioritize your goals before getting specific in a financial plan.
Make sure the plan reflects what matters to you now and in the future.

INSIGHT

Plans Are Directional And Evolving

Plans should be directionally correct at first, not perfect down to the penny.
Expect your plan to change as life and circumstances evolve.

INSIGHT

Why People Avoid Planning

Common barriers include overconfidence, procrastination, and avoidance of mortality topics.
Emotional resistance and pride can keep people from starting a plan.

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After you listen:

Read more about the benefits of having a financial plan in the article "5 Ways Financial Planning Can Help."
Explore Schwab's education and resources around financial planning.

In this episode of Financial Decoder, Mark Riepe is joined by Stephanie Shadel, senior wealth advisor at Schwab, to discuss the essential elements of making a new financial plan, focusing on navigating key financial decisions. They explore the importance of setting personal goals, the barriers that prevent individuals from creating a financial plan, and the necessity of honest assessment of your priorities and present situation. Stephanie shares her experiences with past clients and highlights the emotional aspects of initial choices that start the planning process.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder.

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Important Disclosures

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions.

Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

Investing involves risk, including loss of principal.

Past performance is no guarantee of future results.

All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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