Question

Match the different financial tasks to their corresponding financial life cycle phases.

wealth protection
wealth accumulation
wealth distribution
match these under with those^
risk and task management, building financial security, credit and debt management,bulding long term wealth, drawing up a will, cash management

Answer 1

1. wealth protection: building financial security, risk and task management

2. wealth accumulation: bulding long term wealth, credit and debit management

3. wealth distribution: drawing up a will, cash management

Step-by-step explanation:

Basically, there are four stages to an individual or entreprenuer’s financial life cycle. They are the following:

1. accumulation of wealth,

2. growing or managing wealth,

3. preserving and protecting wealth, and

4. transferring wealth.

Each phase of the cycle intertwine and needs to be managed using a comprehensive approach, this can be explained simply as:

1. wealth accumulation: bulding long term wealth, credit and debit management

2. wealth protection: building financial security, risk and task management

3. wealth distribution: drawing up a will, cash management

Note that, growing and managing of wealth has been overlapped into Wealth accumulation and Wealth protection in the options available in the question.