Financial advisors will contend that everyone should know about financial planning and investing. Yet, that is not the same as being your own advisor. Even if you are in the financial field, while you might have some of the tools needed to be a self-directed investor, there is a lot that you won’t be able to anticipate and act on. So even financial advisors need financial advisors in the same way that doctors need primary care physicians.

There are a lot of surveys that try to determine how many people work with financial advisors and how many people have a written long-term financial plan. Sadly, the numbers are discouraging.

According to reports from CNBC, 75% of Americans go it alone, without the help of a financial advisor. Another survey suggests that 60% of Americans live paycheck to paycheck and that only about 25% have a written financial plan.

Almost half of the people without a written financial plan believe that they don’t have enough money to warrant one. And that couldn’t be further from the truth.

A good financial advisor and a written financial plan encourage greater fiscal responsibility and improve money habits – in the same way that good coaches encourage discipline and performance from their players.