Suppose You Have Just Retired,have Accumulated Many Luxury Goods Over

question 26

Multiple Choice

Suppose you have just retired,have accumulated many luxury goods over the years,still owe a mortgage on your home,still have unpaid travel expenses on your credit cards,and have helped your adult children financially.Your spouse has recently passed away,and you miss his/her contribution to the household income.Which step in the personal financial planning process have you neglected?

• A)Develop your financial health.
• B)Define your financial goals.
• C)Develop a plan of action.
• D)Implement your plan.
• E)Review your progress,reevaluate,and revise your plan.

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Definitions:

Moderate Alzheimer

A stage of Alzheimer’s disease characterized by increasing memory loss, confusion, difficulty in recognizing close relatives, and significant changes in behavior and judgment.

Hyperorality

The condition of exhibiting excessive mouth behaviors and tendencies, such as sucking, biting, or chewing, typically due to neurological disorders.

Agnosia

A neurological disorder marked by the inability to recognize and understand objects, persons, sounds, shapes, or smells despite having functioning sensory organs.

N-Methyl-D-Aspartate

A chemical compound that acts as a specific receptor for the neurotransmitter glutamate, playing a role in brain functions like learning and memory.