We’ve confused the process of financial planning with the end result, the plan. I’ve discussed this issue before, and today at the New York Times I discuss that no matter how well you think you’ve planned, you’ll fail if you don’t correct your course regularly. Yes, it would be nice if we could make a plan once and hit auto pilot, but life comes with too many variables. Our long-term financial success is dependent on our willingness to make these course corrections.

Why Financial Plans Are Worthless (New York Times)