Charlie is sixty-four years old and is looking forward to his retirement next year- He currently has all of his 401(k) retirement money invested in the stock market- What financial principle from Chapter 1 does he need to understand better?

What is the most important step in financial planning?
Monitoring Your Financial Progress. Regular communication and follow-up are important steps in the financial planning process. In fact, creating the plan is really just the first step. You'll have ongoing contact with your planner to find out whether you are on track to meet your financial goals.