John is in the early earnings life stage of financial planning. Which of the following is most important for John to address?
A)The pay yourself first principle
B)RESPs
C)A will and power of attorney
D)Establishing a credit rating

Question

Quizplus · Accepted Answer

The early earnings life stage is characterized by the start of a career and the accumulation of savings. Therefore, the most important thing for John to address would be the pay yourself first principle. This means prioritizing saving a portion of his income before spending on other expenses. This habit will establish a foundation for future financial goals and enable John to achieve his long-term goals. While the other options may also be important, establishing a savings habit is the most crucial aspect of financial planning in this stage of life.

John Is in the Early Earnings Life Stage of Financial