Book Review: The One Page Financial Plan (Carl Richards)

by | Sep 3, 2026

When I do these book reviews, I try and pick books that 1. I like, and 2. That I found useful. Recently, though, I have been reading with some alarm about the end of reading. The Atlantic article linked here started a new round of discourse, but people have been talking about it for a while now.

This first depressed me and then made me determined to find a book that anyone could read. Enter ‘The One Page Financial Plan’ by Carl Richards. Major Spoiler: The book is not one page. So if you were one of those people who couldn’t concentrate beyond a page, this is not the book for you. It comes in at 214 pages, but I think it is worth your while.

For one thing, Richards knows why mist plans fail. He thinks it’s because many plans are very complicated or do not address directly what people care about. Because of this, most of us can’t feel compelled enough to stick with the plan when it gets hard. To fix this, Richards’ suggests a literal one-page financial plan.

It is important to remember that Richards’ idea is not a silver bullet that magically makes all the work go away. You still must do all the other things like budget, pay off debt, save, and invest. But this one sheet keeps you on the state and narrow, or that’s what he believes.

I’d suggest you read the book, but if you’d like a precis, here are the eight things that made the most sense to me personally.

Ask Why

Richards’ says before you start doing anything, you need to start with the one sentence that forms the basis of everything you do. Why? Why is money important? Why do you want to save? Why is this money conversation happening at all?

Richards’ says 9 times out of 10, the first answer is rarely the final one. For instance, why do you want to save? To retire. Why do you want to retire? Because I don’t like my job. Why don’t you like your job? Because I work too long hours. Why do you work long hours? Because I lack security. So maybe the reason you want to save is for security and peace of mind.

If you are like me, you probably originally stopped at “To retire.” and if you did, then when you found out that you need a fully paid off house and $5 million to retire today, you probably got disheartened and lost steam. But if security is what you’re chasing, then maybe that number is different for you.

Keep it Simple, Stupid.

Even though Richards uses 214 pages to explain his one-page plan idea, the main point of the book is that simplicity is key. You don’t need complicated options or futures contracts to make your plan work. Just find out what you want, how much it will cost, and what it will take to get there. Then do it.

For many people, they feel overwhelmed by money and finance. They also think that if something is complex, it is worth more. That’s not true. All you need is a simple plan that you understand. 

Investing Isn’t Gambling

If something is new and shiny and you’re chasing it, that’s not investing. That’s gambling. If you are putting money towards a specific goal because you have a plan and you should work according to the plan, that’s investing.

This is why having a one-page mission statement is important. Know your why. If your investment falls into your why, then it’s a no brainer. If it does not, then recognize that you’re being tempted by fear of missing out.

Let the Past Go

I struggled with this part. In the 2008 financial crash, I was convinced that all banks were going to go south. As a result, I sold my Citigroup stock at a steep discount. It is now up 200% from that date. There are days today where I wake up at night and cringe when I think of my mistake. That’s the one thing that is holding you back, according to Richards. Sure, I made a mistake. But rather than beat myself up about it, I should learn from it and move on.

Don’t be embarrassed by mistakes. Learn from them and then let them go.

Be Honest About the Present

A companion piece to the previous point is being honest about what is going on right now. Know what you own, what you owe, and what you have coming in. There’s no judgement here, it’s all just a bald statement of fact.

You need to know truthfully where you stand so you can improve your situation. Anyone can do this, and you should too.

Remember the Smaller Whys

This is the piece of advice that stuck with me in this book. For every investment decision you make, Richards’ recommends writing a small note explaining why you made the decision. If you bought GameStop in 2022, explain why, honestly. If you bought the SpaceX IPO, did you do it because you believed in Elon, or because you wanted to make a quick buck?

Knowing why you made a decision helps you deal with the consequences, good or bad. If your investment did well, you know why you made the decision. If that investment tanks, you know why.

Make a Will

You need to make a will. I don’t care if you’re in the best of health and expect to live 150 years. You could be out on a walk, and a meteor could land on your head. No one knows what the future holds. You need a will. Make it. Now.

A Plan is a Living Document

This is not a one-and-done situation. Your plan needs to reflect your life circumstances, which means it could change. Review it at periodic intervals, and make sure it still works for you. This makes it useful for the long term.

The Final Word

If you are feeling stressed about money and are unsure where to start, this book might be a good one for you to pick up. I read it in a few hours, which is more than I can say for many other finance books.

If, however, you have a detailed financial plan, and are looking for more technical or specialized information, this might not be the best book for you. The One-Page Financial Plan is trying to help people start investing. If you go in with these expectations hope you find it as useful as I did!

Some Other Stuff I Tried Last Month:

The Odyssey at Cineplex. I watched the movie in IMAX 70mm and was thoroughly entertained. I doubt I’ll be one of those folks who are watching it 10+ times, but I enjoyed it. If you’d like to read it, you can do so for free here.

Uncover Season 3. I was super late to the party, but I listened to the Uncover Podcast about Bruce McArthur. I highly recommend it.

Bizarre Toronto History. This is an annual festival, and by buying a season pass, you can access all the talks anytime. It was a lot of fun!

Disclaimer

The opinions and views expressed in this book are those of the author and do not necessarily reflect the views of Harvest ETFs. Similarly, the opinions and views expressed in this review are solely those of the reviewer (the Author) and do not represent the views of Harvest ETFs. The Author and Harvest ETFs have no affiliation with the author of the book.

Investment decisions should be made in consultation with a licensed and experienced investment professional. This review is provided for educational purposes only and should not be interpreted as investment advice.

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