It’s June 2025, and we are exactly halfway through the year. As with any mid-year wellness check-up, now is also the time to assess your financial health.
The Certified Financial Planner (CFP) Board of Standards’ annual Debt and New Year’s Resolutions Report found that almost half of all Americans (45%) said that saving more money was their top New Year’s resolution for 2025. As we reach the halfway point of the year, now is a great time to look back and track your progress towards your goals. Have you met with a financial advisor to iron out a plan for your money and get serious about saving this year? Have you stayed committed to your goal and set yourself up for success for the latter half of the year? Or did your saving streak end not too long after it started? Regardless of where things currently stand in your financial wellness journey, it’s never too late to get on track with your money.
Financial planning is an understandably intimidating undertaking to handle on your own, but it’s for the people who want to make smarter decisions with their money, and working with a financial advisor will definitely help ease the burden. Financial planning allows you to take control of your financial future, avoid common mistakes, and be prepared for life’s uncertainties. With a solid plan, you have a clear roadmap for your money, which helps you make smarter decisions and stay on track to reach your goals.
I’m here to say that anyone can benefit from planning ahead, regardless of age and income, so long as they’re ready and willing to start planning for their future. Here’s what you need to know to set yourself up for financial success for the rest of 2025 and beyond.
What is financial planning?
The traditional definition of financial planning is the process of developing a strategy for your money. It covers things like saving, investing, budgeting, planning for retirement, handling taxes, and estate planning. The goal is to build a solid foundation for financial security and independence.
But if I had to break this down into easy-to-understand terms, financial planning is planning for the future. This could be the near-term or long-term future, and you might have different objectives based on that time frame and the risk tolerance you’re comfortable with.
Financial advisors and planners play an important role in this process. We help you manage your investments to achieve your financial goals. We assess your entire financial picture, including income, expenses, liquidity needs, and future plans, and provide advice in areas such as saving, investing, and retirement planning. Creating a financial plan is a great first step, but if you really want to make the most of your money, speaking with a professional will really help you go the extra mile.
Why should you begin financial planning?
As a financial advisor, I’ve heard several reasons why people put off financial planning, from believing they don’t make enough money to warrant planning to thinking they’re too young to start now and that they can worry about that later in life. Sometimes it just comes down to their exposure to financial planning. Many people are intimidated by the idea if they aren’t educated enough, so they decide to simply stick with traditional banking services. It’s also possible that their family didn’t plan, so they don’t see the need to plan themselves.
But the fact is that financial planning is more crucial now than ever before. It just is not sustainable to live paycheck to paycheck, and traditional savings and retirement funds are not stretching as far as they once did. People are living longer, health care costs are rising, and Social Security may no longer be enough to cover retirement needs.
I’ve seen clients spend years accumulating wealth, just to have it quickly diminish once long-term care costs arise. We account for our financial needs in life such as major purchases, life moments, bills, and the costs to keep our home running. But not many people intuitively consider what happens when we need additional care later in life or when unexpected financial challenges arise. What it all comes down to is if you want to live comfortably long past retirement – or even reach that savings threshold that allows retirement – it is important to start making strategic money moves sooner rather than later.
What are the key steps to financial planning?
Sit down and write things out. Take time to document your current assets, liabilities, monthly income, and monthly expenses. Then, you’ll know how much money you have left to invest.
Have an emergency fund. Save six months’ worth of living expenses in an easily accessible account to cover any unexpected expenses.
Create a budget and begin saving and investing as early as possible. Once you know how much you spend on fixed and necessary expenses and you’ve set money aside in an emergency fund, take 30% of your remaining income and invest it into your 401K and regular brokerage account. Diversify your investments as much as possible to allow maximum opportunities for returns.
Take advantage of employer-sponsored plans. Set up regular monthly contributions to a retirement plan – especially those where employers match contributions and offer tax benefits – and other non-retirement investments such as mutual funds or managed portfolios.
Plan for taxes. Work with an accountant to take advantage of tax-efficient investing, such as traditional IRAs, Roth IRAs, college savings plans, and HSAs. A good tax strategy can save you money in the long run.
Review and adjust your plan. Your life and goals will change, and so should your financial plan. Do regular financial check-ups and make small changes where necessary to keep you on track to reach your goals.
How should you approach planning for the future?
There’s no one-size-fits-all planning strategy. It depends on your age and current needs. If you are in college or a recent grad with student loans, you might want to focus on reducing your debt balance and putting yourself in a position to buy your first property.
If you’re recently married, you’ll definitely want to start going to financial meetings together to discuss what your long-term goals are. Too often, I see young couples who are not on the same page financially. So, one spends more on things that the other does not agree with, which might cause delays in the couple making financial progress in their life. The older they get, the more long-term planning they should do.
But overall, you should have both short-term and long-term goals. Planning for the next five years is important for immediate goals like paying off debt (or retiring if you’re close to retirement age), while planning for 20-30 years ahead ensures you’re on track for retirement and future financial security (and making sure you won’t outlive your savings).
But if you do nothing else, everyone should create a budget and stick to it. Without a clear understanding of how much money is coming in and where it’s going, it’s hard to achieve long-term financial goals. I firmly believe that if you start with being transparent, you can take control of your finances.  
Anyone looking to learn more about financial planning can check out resources like the CFP Board website, financial blogs, or even talking to a financial planner or financial advisor. There are many tools and guides available online to get you started. We have a lot of great resources on BankWithUnited.com, from helpful articles and calculators to tips for investing and economic snapshots. You can also fill out a form there to be connected with a financial advisor who can best help you with your planning needs.
Ebony Robinson is a financial advisor at United Brokerage Services, Inc., a premier full-service brokerage and investment advisory firm and a wholly owned subsidiary of United Bankshares, Inc. Based in Atlanta, Georgia, Ebony covers the Atlanta metro region. She has a Master of Business Administration and has worked in financial services since 2004. She holds the following licenses: Series 6, Series 7, Series 63, and Life & Health Insurance.
