Step 3 of the Personal Financial Planning Process Is "Develop

question 53

Multiple Choice

Step 3 of the personal financial planning process is "Develop a Plan of Action." According to your text,which of the following is not one of the "common concerns" that should guide all financial plans?

• A)Flexibility
• B)Long-term profitability
• C)Liquidity
• D)Protection
• E)Minimization of taxes

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Definitions:

Low-income Groups

Sections of the population that earn significantly less than the average income, often facing economic hardship and limited access to resources.

Hearing Impairment

A partial or total inability to hear; it can vary from slight to profound deafness.

Ableism

Discrimination and social prejudice against people with disabilities, favoring those who are not disabled.

Downward Drift Hypothesis

The assertion that those with mental illnesses, unable to finish their education or secure a job, tend to drift into low-income groups.