Beverly is planning for her retirement.She has determined that her car is worth $10,000,her home is worth $ 150,000,her personal belongings are worth $100,000 and her stocks and bonds are worth $300,000.She owes $50,000 on her home and 5,000 on her car.What step in the retirement planning process is Beverly completing?
A) analyzing her current assets and liabilities
B)estimating her spending needs
C) evaluating her planned retirement income
D) developing a balanced budget based on her retirement income
IS B CORRECT ANSWER?THANK YOU:)))
No.
I see nothing about spending needs in that scenario.
A. It seems like she is analyzing her current assets and liabilities.
No, B is not the correct answer. The correct answer is A) analyzing her current assets and liabilities.
Analyzing her current assets and liabilities is the step Beverly is completing in the retirement planning process. In this step, she is evaluating her current financial situation by determining the value of her assets (such as her car, home, personal belongings, and stocks/bonds) and subtracting any outstanding debts (such as the mortgage and car loan). This helps her understand her net worth and provides a foundation for making informed decisions about her retirement planning.