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.


Answer: E

Business

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