The most significant barrier to effective planning is change. Effective planning strategies typically include changes, both real and perceived, to people, systems, processes and structure. This can be highly disruptive to an organization.Know More
People may fear their roles within an organization diminishing or disappearing altogether due to anticipated changes. System technologies may need an overhaul to accommodate the new strategy, and this could affect the ability of employees to do their jobs.
Organizational structure may also be revamped, shifting the chain of command as old departments within an organization are eliminated and new ones are created. Processes will also be under scrutiny during effective planning, and concerns may be raised about how implementing more effective processes could phase out specific jobs.Learn more about Financial Planning
A person should start planning for retirement as soon as he or she is able to earn any amount of money. Saving for retirement is especially important since the average American spends a period of about 20 years in retirement, according to the US Department of Labor.Full Answer >
In estate planning, wills and trusts are both essential tools for carrying out an individual's final wishes, but one is not a replacement for the other. Everyone should have a will drafted before they die, even those who create trusts, reports CNN Money. Both instruments have advantages and downfalls.Full Answer >
Good financial planning worksheets are available online from a wide variety of reputable companies, including Charles Schwab, Smart About Money and Kiplinger. The worksheets are categorized to suit specific needs, such as household budgeting and retirement savings.Full Answer >
Various free retirement planning checklists can be found online at Forbes, Financial Mentor, U.S. News and World Report and many other sites. Each site takes a slightly different approach, but all require careful thought and calculations.Full Answer >