The Four-Step Approach to Financial Planning Begins by Evaluating Your

question 5

True/False

The four-step approach to financial planning begins by evaluating your success in goal achievement.

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Definitions:

Rough Order Magnitude (ROM) Estimate

An early, approximate evaluation of the potential costs associated with a project, used for preliminary budgeting and planning purposes.

Ballpark Estimate

An approximate calculation or judgment of the value, number, quantity, or extent of something, intended to provide a rough understanding rather than precise accuracy.

Synchronous Communication

Synchronous communication refers to real-time exchanges where participants are present at the same time, such as in meetings or live chats.

Audio Conference

A telecommunication method that allows multiple people to participate in a conversation over audio channels without being in the same location.