Which of the following are the three stages of the financial planning life cycle?
A) Wealth accumulation, wealth preservation, and wealth transfer
B) Wealth accumulation, wealth preservation, and wealth depletion
C) Wealth accumulation, wealth conservation, and wealth transfer
D) Wealth acquisition, wealth transfer, and wealth depletion
E) Wealth accumulation, wealth conservation, and wealth maturation

Question

Quizplus · Accepted Answer

The three stages of the financial planning life cycle are wealth accumulation, wealth preservation, and wealth transfer. Wealth accumulation refers to the process of building assets and savings, wealth preservation involves strategies to protect and maintain wealth, and wealth transfer involves the distribution of assets to heirs or beneficiaries. Option B is incorrect because wealth depletion is not a stage of the financial planning life cycle. Option C is incorrect because wealth conservation is not a commonly recognized stage of the financial planning life cycle. Option D is incorrect because wealth acquisition and wealth depletion are not recognized stages of the financial planning life cycle. Option E is incorrect because wealth maturation is not a commonly recognized stage of the financial planning life cycle.

Which of the Following Are the Three Stages of the Financial