3 Panel Approach Financial Planning

Question: What are the different financial planning approaches? Don’t define them

Answer: -The life cycle approach

-The pie chart approach

  • The financial statement and ratio analysis approach

  • -The two-step/three panel approach

  • - The present value of goals approach

  • - The metrics approach

  • - The cash flow approach

  • -The strategic approach

  • Question: What is the life cycle approach?

  • Answer:

  • Question: What is the pie chart approach?

  • Answer:

  • Question: What is the financial statement and ratio analysis approach?

  • Answer:

  • Question: What is a two-step/three-panel approach?

  • Answer:

  • Question: What is the present value of goals approach?

  • Answer:

  • Question: What is the metrics approach?

  • Answer: This approach uses quantitative benchmarks that provide rules of thumb for a measurement of where a client’s financial profile should be. When combined with the two-step/three-panel approach, metrics help establish objectives that are dollar and percentage measurable compared to ratio analysis.

  • Question: What is the cash flow approach?

  • Answer:

  • Question: What is the strategic approach?

  • Answer: This approach uses a mission, goal, and objective approach considering the internal and external environment and may be used with other approaches.

  • Question: Using the life cycle approach what information is gathered?

  • Answer:

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