What steps can be taken to build a sound financial reputation

2 answers:

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planning for retirement

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The seven steps to achieving a sound financial reputation include:

1) Analysis of cash flow – Positive cash flow would mean having funds available for savings.

2) Making a plan for retirement goals and other special goals.

3) Increase retirement savings – This can be done by maximizing contributions in your retirement accounts or catch-up with missed contributions.

4) Reduce income tax. Consult a tax professional to help you with your tax strategy.

5) Keep pace with the current inflation rate.

6) Manage potential risks and liabilities – Being covered with insurance can give you protection in times of unexpected risks.

7) Consult a financial advisor to provide you with informed decisions.

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I think "A & B are correct."

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Firlakuza [10]

Inflation is undesirable because it redistributes income from those who can raise prices to those who cannot.

<h3>What is inflation?</h3>

In the field of economics, inflation refers to an overall rise in the cost of goods and services throughout a nation.
Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.
A general increase in prices over time diminishes customers' purchasing power because a constant quantity of money will eventually allow for less consumption.
Whether inflation is running at 2% or 4%, consumers still lose purchasing power; the higher inflation rate only doubles that loss.
Those interest rates that are fixed for the duration of the loan, won't fluctuate in line with inflation.

To learn more about Inflation refer to:

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2 years ago

il63 [147K]

Answer:

dwadaddaddadawdawdwa

Explanation:

awdawdadawdawdawdaw

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