A plan is similar to a map. When following your plan, you can always see how much you have progressed towards your goals and how far you are from your destination. Knowing where you are is important for making decisions on where to go or what to do next.
One more reason for why you need planning is the famous 80/20 Rule. It states that for unstructured activities 80 percent of the effort provides less than 20 percent of the valuable outcome. Either you spend too much time on deciding what to do next or you are taking many unnecessary and inefficient steps.
The following guides will give you some important tips on wealth planning.