You may have heard the term financial planning, but aren't entirely sure what it is.

We'll stick around because I'm about to explain it in this, the 76th episode of the Retirement Planning Education Podcast.

Welcome to the Retirement Planning Education Podcast, where you can learn all about IRAs and Roth IRAs, employer retirement plans, taxes, social security, Medicare, portfolio withdrawal

strategies, annuities, estate planning, and much more. And now here's your host, Andy Panko.

Hello again, everybody. So we meet once more. Thank you for listening as always. Today I'm going to

talk about what is financial planning. It's a very broad, very generic,

very nebulous term that is thrown around a lot with often not a lot of clarity or meaning around it.

So I'm going to break down as best I can what exactly it is, what it isn't, etc.

This episode is prompted by another advisor I saw make a post on LinkedIn.

I'm fairly active on LinkedIn where this person is often, has a lot of cool things

and engaging things to say, but oftentimes we'll just stir the pot.

Clearly we'll make or say something controversial just to kind of,

who knows, you know, get some followers, get some likes, get some traction on his post. But he had one

that basically said, you know, kind of calling out anyone who uses the term, any advisor, he uses

the term financial planning saying, do you even really know what it is?

You can't describe it.

So don't throw it around in front of consumers.

And to some extent, it's a fair point.

But it was a little heavy handed to go that far and basically say don't use it.

I think the stepping back, it's important to know what it is, what it isn't, hence the reason why I'm doing this episode.

But, you know, to go so far as to say it's like a gimmick or, you know, slight a hang.

I forget the term you used, but basically like, you know, claimed he's looking down upon people who use the term and said you shouldn't.

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