The July issue of Financial Advisor has an article titled “Financial Planning Saves the World.” The author, Richard Wagner, makes the case that financial planners make it possible for doctors, lawyers, scientists, engineers, even theologians to have healthy relationships with money so that they can do their jobs effectively and efficiently. I think he has a case, but it may be a bit overstated to claim that we, in the financial planning business actually save the world. There are, after all, people who manage to make it through without our assistance.
But there are a lot of people who don’t. One of the reasons I am happy doing my job is knowing that I am very important to my clients’ lives. Some are incapable of managing their financial affairs. Many don’t have the time and others don’t have the interest. But they all need to have their finances managed effectively and efficiently. The alternative could literally ruin their lives.
So while I may not think that I am saving the world, I know that I’m saving the lives of many of the people who look to me for guidance. That’s good enough.