“Get real planning, not too much, mostly fee-only”
Michael Pollan, in his terrific book “In Defense of Food: An Eater’s Manifesto” — came up with the motto “Eat Food, Not Too Much, Mostly Plants”. A basic guide to good eating in only 7 words.
I’m not sure I can get it quite that tight, but this is pretty close.
“real planning” as opposed to what often pretends to be, such as just one product area like portfolio management, or insurance, which are often (but not always) *sold* as if they were actual planning. Planning is a holistic, comprehensive view of your situation and needs. Sometimes you do need more of a specific product, like portfolio management, or insurance. But it needs to be in the context of your whole situation.
“not too much” — focus on what you actually need and what’s useful — no phone-book sized “plans” which nobody ever reads, no heavily active nonsense like churning or chasing the latest fad, etc.
“mostly fee-only” — I say mostly because there are some things which simply aren’t sold or available through true fee-only planners — like some essential insurance products. But, yes, mostly.
So there you have it:
“Get real planning, not too much, mostly fee-only”
Meyers Wealth Management 