It is a known fact that most people spend more time planning their annual vacation than they do their financial future. Others go to great lengths to make money, but have little idea of how to keep it.

In today's economy and the economy of the future, this might be changing. If it doesn't change, there won't be ample money to live with any kind of dignity, let alone take that planned vacation.

There are many eroding factors working against your money today. Increasing taxes is the one getting the most attention, but there are others: Inflation is increasing just above 3 percent per year. Stock market declines have played havoc on many people's plans. Technological change has forced people to spend their hard-earned dollars to keep up with this ever-changing world we live in. The list goes on and on.

Keep in mind that getting a high rate of return is not your only financial task. If you can beat the eroding factors, you will be very well on your way to financial success. In fact, there is actually more money made in the elimination of eroding factors than there is in finding the right investments.

There are two possible roads you can take: One road limits you to a set of pre-designed needs, goals or targets and hopes that the variables don't change too much over time.

The other road is to build a plan that seeks to maximize the performance of your income and your assets and to maximize your opportunity to surpass your needs, goals, and targets, while protecting you from the eroding factors.

To bake a cake you must use flour, salt, raw eggs, sugar and oil. Eaten individually, each is pretty distasteful or even bitter. But bake them together, and they become delicious. The same is true for your money.

The key to financial success is not to have money in one financial product for college education, other money in one financial product for retirement, other money in one financial product for wealth building, and other money for estate planning. This financial-planning concept of having each dollar work separately is one of the core reasons for financial failure for many people.

Money needs to work in concert. In developing a strategy with all of your assets working like a symphony rather than several one-man bands, will help create financial success. Your assets and money should all be coordinated and integrated to formulate one offensive and defensive plan.

If your money flows from one financial product to another in a strategic manner that yields high rates of return, low risk and more protection, it will be far better than keeping money isolated in financial products focused on individual goals. Controlling your money at all times and learning to use it over and over again will get you the most use out of each dollar.

* Next month: Wealth strategies of today

Tim Schumacher represents Strategic Financial Partners in Hays. tschumacher@htk.com