We have always been somewhat skeptical of the financial planning process. The planning process taught in the CFP courses takes a capital needs approach which requires one to create a detailed cash flow that extends many years into the future. To do that one must make assumptions about future income, tax rates, rates of return and expenses among other things. About the only thing you can know for sure is that the assumptions are likely to be wrong. The level of detail required to complete that type of analysis is impossible to know with any accuracy. This approach is to us, a recipe for disappointment.