PFIN Online, 1 term (6 months) Printed Access Card for Billingsley/Gitman/Joehnk's PFIN 6
6th Edition
ISBN: 9781337118026
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Question
Chapter 14, Problem 1LO
Summary Introduction
To discuss: The importance of retirement planning, and state the three biggest pitfalls to good planning.
Expert Solution & Answer
Explanation of Solution
Retirement planning is important because it helps to the individuals in meeting their needs and wants in the old age or when they don’t have another source of income. Also, old people do not require taking money from their child or from anyone else for fulfilling their needs and wants.
The three biggest pitfalls to good planning are as follows:
Starting too late
Investing too conservatively
Putting away too little.
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Chapter 14 Solutions
PFIN Online, 1 term (6 months) Printed Access Card for Billingsley/Gitman/Joehnk's PFIN 6
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