Answer:
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
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.
