Think of your one-page financial plan as the gatekeeper for your financial life.

What Does a One-Page Plan Look Like?

“If it’s a one-page financial plan, then why isn’t the book only one page?”

I’ve heard this joke a few times since the publication of  The One-Page Financial Plan.

While it does make me laugh, the joke actually highlights something I think is really important. I could have written a book with a single page and said this financial plan is for everyone, except for one simple reason.

I can’t predict or tell you what matters most to you. Without that knowledge, I certainly can’t tell you what your goals should be 10, 20 or even 30 years from now.

You have to figure out those answers for yourself. But people can have a hard time knowing what questions to ask, let alone the answers to those questions. So even though it required more than one page, I wanted to make sure that you understood how to build your own one-page plan.

All of this leads up to a second question I’ve heard a lot: What does your plan look like?

The exact plan that sits on my desk is the sketch for this week. Any time I face a big decision, I look at the list my wife and I created. We weigh our options and make decisions that fit our goals. But getting to this point didn’t come easy.

I had to let go of the idea that I needed “details.” It turns out, however, that the one-page plan isn’t really about details. Instead, it reminds me of what I value most and helps me make decisions that keep me focused on those values.

Of course, the details matter, but at a much later point in the decision-making process. We only muddy the waters if we focus on details, or tactics, first instead of our overall plan.

For instance, the first question I need to ask about any decision involves the potential impact on items one, two, and three. If I can’t say that the choice I’m considering aligns with those three things, then does it really matter if I have my exact portfolio allocation at my fingertips? It’s only after the potential choice makes the first cut that I need to look at the details.

For me, I think of my one-page plan as the gatekeeper for my financial life. Nothing gets through unless it fits with what I value most. The same thing applies to you and your plan.

Plus, you don’t have to live with it for life. I know that my wife and I will revisit our plan after our kids finish school. Something else we value will take the place of that goal eventually.

The most important thing to remember about this process is that it’s about you. It’s about what’s important to you. It’s about what’s important to your family. The things that end up on your one-page plan should reflect what matters most to you. If you feel like sharing, I’d love to see your plans. Just send an email with an image attached to hello@behaviorgap.com.

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