Most of us feel better when we have a plan. We update our calendars before a busy week, check the weather before leaving the house, and save for emergencies because preparation gives us confidence.
Money is no different. A financial plan helps you prepare for the future, but it can't remove every uncertainty. Life still brings unexpected twists, and the markets rarely stay on an upward curve.
The temptation is to respond by trying to control more. In reality, lasting financial confidence comes from recognizing what you can influence and trusting your plan to handle what you can't.
Fear Often Manifests as Control
Fear and the sense of control it creates can show up in different ways. Maybe you feel compelled to check your bank account balance multiple times a day or pay close attention to market headlines. Some people hold too much cash (even stuffing it under the mattress) because investing feels too “risky.”
Behaviors like these can feel like they’re putting you in control. Staying informed and paying attention to your finances are generally good things, after all.
The problem is that certainty is something no one can fully achieve in investing. The more you try to control every variable, the heavier the burden becomes. Rather than instilling confidence and a sense of relief, it can lead to detrimental side effects like decision fatigue, second-guessing, or the feeling of constantly being behind.
What Can Be Controlled?
One of the most important things you can do for your own sake and financial well-being is to acknowledge what you can and cannot control.
Some factors outside of your control include:
Market performance
Interest rates
Inflation
Economic cycles
Political or policy changes
Unexpected life events (health emergency, death of a spouse, job loss, etc.)
Though these forces have the power to influence your financial life, they remain outside of your control.
Fortunately, some factors still remain firmly within your control. For example, you have control over your spending habits, and you can decide how much to save or invest. You can work with a professional to pursue tax-planning opportunities, maintain investment discipline, manage risk appropriately, or keep estate plans up to date. You also have the power to align your resources with your goals and values.
Financial confidence is achievable, but only when you direct your energy towards the controllable factors rather than worrying about the ones you can’t.
Why Faith Over Fear Is Important
Once you acknowledge what you can’t control, the next step is to build a plan aimed at growth and protecting your wealth against the unexpected.
When you create a financial plan that is built for different possibilities, prepares for potential roadblocks, and incorporates flexibility into your investment strategy, it becomes easier to have faith over fear.
Creating a financial plan is almost like planting a tree.
You can pick the best soil and water it consistently. You can do everything you can to create the conditions needed to thrive. Elements will still exist out of your control. You can’t choose which days are sunny and which are rainy, and you certainly can’t force your tree to grow faster.
Financial planning works similarly. You can create healthy financial habits, save diligently, invest wisely, and adjust as needed. You still can’t control every outcome or accelerate results.
Having faith means trusting that the actions you take today will contribute to the future you're working toward.
Don’t Underestimate the Power of Planning
With a solid financial plan in place, you're less likely to second-guess every financial decision. Your spending becomes more intentional as you understand how it fits within your broader goals. Market volatility feels more manageable as well, since you’ve already prepared for these periods of uncertainty.
Most importantly, planning helps you make decisions based on your values rather than your fears.
Planning Creates Preparedness
You can’t control the future, but you can prepare for it. Life and the markets will always throw some unexpected curveballs your way. If fear starts to creep in, take a step back and consider if more control is really the answer or if it’s time to put greater faith in the plan you’ve already built.
The Hatlestad Group is an independent wealth management firm based in Edina, Minnesota, primarily serving successful head-of-household women, late-career executives, and pre-retirees. With a tailored approach to fee-only comprehensive wealth management, they empower clients to live out their next chapter with vision, wisdom, and resources, creating a purposeful and meaningful future. They can be reached by phone at (763) 259-3637, via email at info@thehatlestadgroup.com, or by visiting their website at thehatlestadgroup.com.
The information presented is based on sources believed to be reliable and accurate at the time of publication. This material is for educational purposes only and does not necessarily reflect the views of the author, presenter, or affiliated organizations. It should not be construed as investment, tax, legal, or other professional advice. Always consult a qualified professional regarding your specific situation before making any decisions.