Question

Which consideration is of least importance in an individual’s basic wealth protection

Answer 1

Home Ownership

Step-by-step explanation:

The first is a basic wealth protection phase, which includes five cash management steps. These steps are: goal setting, cash reserve, spending plans, record keeping, and net worth management. The credit and debt management step included in this phase involves actions such as reducing credit use, stopping credit misuse, and debt reduction. The risk and tax management steps include insuring and protecting yourself against economic loss. A plan for income tax reduction by various legal means is also a part of this phase. This was correct in Plato

Answer 2

The correct answer is D) avoiding credit abuse.

The other options were A) cash reserve. B) home ownership. C) income tax reduction.

The consideration that is of least importance in an individual’s basic wealth protection is avoiding credit abuse.

People need to know the importance of having a good financial plan to protect their assets. One key component of this financial plan is to have insurance to finance education or protect your house. People should buy at least a basic wealth protection plan to make sure their property or assets are safe.