Most people have only the vaguest idea where they stand financially at any given time.
Even murkier are their long-term goals. Because it's a lot of work, first of all, and frequently a little disheartening. In addition, it may be difficult to reconcile conflicting claims on your resources, once you begin to think about them objectively. It seems much easier to ignore the whole thing and let the future take care of itself. That's where formal financial planning can help.