Questions: People need to develop a financial plan to accomplish their retirement goals. True False

People need to develop a financial plan to accomplish their retirement goals. True False
Transcript text: People need to develop a financial plan to accomplish their retirement goals. True False
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Solution

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The answer is True: People need to develop a financial plan to accomplish their retirement goals.

Explanation:

  • Developing a financial plan is essential for ensuring that individuals can meet their retirement goals. This plan typically includes saving and investing strategies, budgeting, and understanding future financial needs.
  • Without a financial plan, it is challenging to ensure that there will be sufficient funds available to maintain one's lifestyle and cover expenses during retirement.
  • A well-structured financial plan helps in setting realistic goals, tracking progress, and making necessary adjustments over time to stay on track for a secure retirement.
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