True or False: Creating a financial plan is a simple process that is easy to maintain once started.

Creating a financial plan is a complex process that often requires thorough analysis, careful consideration, and ongoing management. While the initial steps may feel straightforward—such as setting goals, gathering financial information, and creating a budget—the maintenance of a financial plan demands ongoing attention and adjustment.

Life circumstances can change, laws regarding taxes and investments may shift, and market conditions can impact financial goals. Additionally, regular reviews are necessary to ensure that the plan remains aligned with one's evolving objectives and financial situation. Moreover, individuals often face challenges in adhering to the plan due to behavioral biases, unexpected expenses, or changes in income. Consequently, while starting a financial plan might seem simple, sustaining and adapting it over time is a multifaceted and sometimes difficult endeavor.