Question

Which activity is a part of personal financial planning?

a. setting municipal budgets
b. planning for retirement
c. investing in social security trust funds
d. investing in disaster relief funds(DRFs)

Answer 1

Planning for retirement is one of the most important parts of personal financial planning. Municipal budget and disaster relief funds are both the responsibilities of the government, but retirement is personal expense. Planning for retirement also needs to be started as early as possible.