The greatest myth surrounding Financial Planning is that many believe that it is a luxury for the rich; this is definitely not the case.
The common misconception revolves around many believing the main role of the planner is to invest their money, with the logical conclusion, if I have no money I don’t need a financial planner. The truth is that Investment of funds is only one function of the financial planner. The role of the financial planner is to assist in identifying financial goals and develop strategies to effectively use your assets and income to achieve those goals. This is a broad all encompassing statement, but none the less true.