You have an idea to see the Calgary Stampede this year and book 2 weeks’ vacation to drive there and back from Ottawa. Imagine embarking on this journey with no roadmap or forethought. One turn in the wrong direction and a few festival days are now spent on the road. You may get there eventually, but it will certainly take longer, and require more fuel, than if you had planned your route. One unforeseen event with no contingency plan, a flat tire with no spare for example, could cause you to miss the Stampede entirely. How miserable would you be if you spent all the time you had trying to reach your destination and never getting there?
Without proper preparation, attempting to achieve your life’s financial goals is much the same. You may eventually get there but it will certainly take longer, and cost more money, than if you had a financial plan to help you navigate. Also, not being prepared for a few bumps on life’s road could stall your trip to the point where you never achieve your goal.