PFIN 7:STUDENT EDITION-MINDTAP (1 TERM)
7th Edition
ISBN: 9780357033647
Author: Billingsley
Publisher: CENGAGE L
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Question
Chapter 1, Problem 3LO
Summary Introduction
To discuss: Life cycle of financial plans and their role in attaining financial goals.
Summary Introduction
To discuss: Ways to deal with special planning concerns and use of professional financial planners.
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Students have asked these similar questions
Define the financial planning process.
List the elements of a good financial plan.
Which of the following statements constitutes a definition of a financial plan?
Group of answer choices
Results that an individual wants to attain
2. A roadmap for achieving financial goals
3. Redefining your financial goals
4. Setting a goal date
Review the material in Chapter 1 on Personal Financial Planning.
Define the financial planning process
List the elements of a good financial plan.
Identify and discuss the three most important personal factors and the three most important economic factors that affect your financial planning decisions.
Chapter 1 Solutions
PFIN 7:STUDENT EDITION-MINDTAP (1 TERM)
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Similar questions
- Identify some investment objectives. Discuss the role that investing plays or could play in a financial plan.arrow_forwardWhat is the relationship between strategic planning and financial planning? How do you do strategic planning and financial planning for your own personal finances?arrow_forwardHow can using personal financial planning tools help you improve your financial position? Please explain and give examples.arrow_forward
- Professional financial planners should Multiple Choice A inform the client about the outcome of the plan. B assess their client's risk-and-return requirements on a one-time basis, explain the investment plan to the client, and inform the client about the outcome of the plan. C explain the investment plan to the client. D assess their client's risk-and-return requirements on a one-time basis. E explain the investment plan to the client and inform the client about the outcome of the plan.arrow_forwardThe last step in the financial planning process is to Group of answer choices use financial statements to evaluate results of plans and budgets, taking corrective action as required implement financial plans and strategies. periodically develop and implement budgets to monitor and control progress toward goals redefine goals and revise plans and strategies as personal circumstances change develop financial plans and strategies to achieve goalsarrow_forwardExplain the term “Financial Planning”.arrow_forward
- What financial tools can help you make better financial decisions?arrow_forwardUsing this template, formulate and create a minimum of three SMART goals related to these aspects of personal financial planning. For each goal, also identify why this is an important financial goal for you at this time. Career planning and development Spending plan/cash flow analysis Tax planning Savings and investing Use of creditarrow_forwardExplain the goal of financial managementarrow_forward
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