Question

Which one of the following is not one of the five basic steps in personal financial planning?a. evaluate your financial healthb. develop a plan of actionc. define your financial goalsd. implement your plane. let an accountant review your plan

Answer 1

Answer:

The correct answer is letter "E": let an accountant review your plan.

Explanation:

Personal financial planning is important in order to achieve individual economic goals within an established period of time. The five (5) steps that should be followed for that purpose are:

• Define the financial objective
• Collect individual financial information
• Analyze the individual financial information
• Develop a financial plan
• Implement and review the financial plan

The review of the financial plan must be done individually.