The key to a financial plan is actually having one. Too many people think that it is something you put off until you have enough money or will only have to think about when planning for retirement. A financial plan, however, is important from the get-go. A financial plan should be with you like a good friend from the day you start working and throughout your life until well into retirement.
Each year, across all savings, investments and accounts, you should revisit your priorities and your strategy for reaching them. Monitor your goals and check if they are still aligned with your current situation. If your conditions have changed, make adjustments as necessary to ensure that you still meet timeframes and risk tolerance in order to bring your portfolio profile in line with relevant market performance.