Which of the following statements about financial planning is not true?

Which of the following statements about financial planning is not true?
1. Financial planning process is a series of decisions on how much money you will need at some future time to meet your goals and how you will obtain the money
2. To meet your goals, you must balance the equation: Financial goal = present savings (FVIF _{n, k}) + annual savings (FVIFA _{n, k})
3. Once you have a financial plan in place, you need to review it only every few years to bring it up-to-date and can otherwise not worry about it or even think about it much
4. All of the above are true

Expert Solution

Option d, All of the above are true

Explanation : All of the above options are true since financial planning is a process that involves ascertaining much money you will need in the future to meet you life as well as financial goals in the future. It is equal to the future value of present savings along with expected future savings. Also, the financial goals must be revised on a frequent basis as per your current life situations to keep it up to date.

jeff jeffy answered 2 years ago

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