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CHAPTER 3 setting goals and the financial planning process.docx

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Department
Finance
Course
FIN 502
Professor
Steve Joyce
Semester
Winter

Description
FIN502 Personal Financial Planning CHAPTER 3 setting goals and the financial planning processDESIRES AND GOALSFinancial goal must possess two attributes 1 goals outcome can be measured precisely in dollars and 2 there is a deadline for its completionTo set a financial goal brainstorm all desires and goals both short term and long term then examine each item carefully and convert every desire into a financial goalTHE FINANCIAL PLANNING PROCESSFinancial planning process system of setting goals devising action plans and monitoring processProcess has four main steps 1 Goal setting 2 Action plan 3 Take action 4 Feedback monitoring processFinancial goal at time nexisting savingsinvestment income for n years on
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