John Is 55 Years Old and Has $55,000 Outstanding on a Mortgage

question 48

Multiple Choice

John is 55 years old and has $55,000 outstanding on a mortgage and no other debt. John typically saves $5,000 in an IRA account and another $10,000 in a company pension. John is most likely in the

• A) discovery phase.
• B) accumulation phase.
• C) consolidation phase.
• D) spending phase.
• E) gifting phase.

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Definitions:

Simplist Principles

Fundamental rules or guidelines that are intentionally uncomplicated and straightforward.

Customer Needs

The wants, expectations, and requirements of consumers that businesses aim to fulfill with their products or services.

Empathy

The ability to understand and share the feelings of another from their perspective; often described as putting oneself in another's shoes.

Golden Rule

A moral principle that suggests treating others as one would wish to be treated, promoting empathy and fairness.