WHAT IS FINANCIAL PLANNING? A COMPLETE GUIDE
FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS

with Sandy Hornor | CEPS
Managing Director, Wealth Management &
Executive Manager, BWFA

and
Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS, 
Financial Planner, BWFA

Episode Details:

Financial planning is often confused with investing, estate planning, or tax planning. However, at its core, financial planning is bigger than any one piece—it’s the roadmap that helps you reach your life and financial goals with clarity and direction.

In this episode of Healthy, Wealthy & Wise, BWFA’s Sandy Hornor and Tyler Kluge explain what financial planning truly means. They discuss how a comprehensive plan covers every part of your financial life: budgeting, saving, debt management, investing, insurance, retirement, and estate planning. Together, these elements create a foundation that helps you not only build wealth but also protect it for the future and for your loved ones.

Listeners will also learn why financial planning is more than picking investments. It is about setting short-, mid-, and long-term goals and then creating a clear path to achieve them. Sandy and Tyler emphasize starting early, automating savings, and avoiding lifestyle creep. In addition, they highlight how estate planning documents, though often overlooked, play a critical role in protecting family members and ensuring your wishes are honored.

Flexibility is another key takeaway. Plans should not remain static. Just as a pilot adjusts course during turbulence, financial plans must adapt to changes in life. Career transitions, shifting markets, or major family milestones may require new strategies. That is why ongoing updates, regular reviews, and professional guidance are essential to staying on track.

With more than four decades of experience, BWFA has guided thousands of families as they set goals, manage challenges, and move forward with confidence. This episode offers practical tips as well as reassurance: you don’t have to plan alone. Our advisors are here to help you build and maintain a strategy that works.

For more insights on financial planning, visit BWFA’s Financial Services page