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While this verse is often taken out of context, we all love the implications of what God says in Jeremiah 29:11 For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future. Knowing God has a perfect plan for our lives comforts us. It gives us peace knowing He has no intention of allowing harm to come to us. Ultimately, God wants us to move forward and push for the future, not for us to look back at the past and dwell on out mistakes and missteps.
Daily Devotion 
Stan preached on this passage a year or so ago, and, as per usual, was quite eye opening. The Jews thought that they were only going to be in exile for a little while. There were false prophets telling them not to settle, to always be alert, to always be ready to leave for when God rescued them. However, that was not God’s plan at all, and that is why Jeremiah told them to settle down, to build houses, to build businesses, to have children. He flat out says, “hey, you’re going to be here for 70 years so be prosperous and make this place great so that it will be better for you.” And then he comes in with the verse above, which as you noted, is always taken out of context. Yes, God has a plan for them and that plan is not to harm them, but they have many many years of exile in front of them This verse does not promise that the difficulties you are going through will automatically go away. It doesn’t promise that all the dreams you have will all come true. It promises only that God has a plan and that plan does not involve harming you, but involves blessing you and telling his story through you. But you may have to go through your exile, your desert, your separation from what you consider to be home, comfort etc… in order for God to fulfill in you what he has planned.