A Good Financial Plan Completed When One Is in Their

question 33

True/False

A good financial plan completed when one is in their 30s will typically last a lifetime.

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Definitions:

Esteem Needs

A concept from Maslow's hierarchy of needs that refers to the human desire for respect, self-esteem, and recognition from others.

Deficit Principle

The concept that suggests individuals are more motivated by their unmet needs than by desires that have already been satisfied.

Maslow's Theory

A psychological theory proposing a hierarchy of human needs that motivate behavior, starting from basic physiological needs to self-actualization.

Self-Actualization Needs

The apex of Maslow's needs pyramid, which encompasses achieving one's ultimate potential, pursuing self-realization, aiming for personal development, and experiencing life's high points.