Internal Analysis

Question 1

What is internal analysis

Answer 1

internal environment that defines the way people work, spend, save and think

Question 2

What internal data impacts clients goals and behaviros

Answer 2

life cycle position, attitudes and beliefs, special needs, financial position and clients perception of financial position

Question 3

Describe the Life Cycle Position

Answer 3

age is the most important element of financial planning, marital status creates need or desire to provide for spouse, dependents need education funding and life insurance, income and net worth create the need for tax minimization and protecting assets

Question 4

Describe clients attitudes and beliefs

Answer 4

Clients risk tolerance between perception and reality, savings and consumption habits, client views on retirement and employment, attitude towards taxation

Question 5

Describe special needs factors

Answer 5

government benefits need to be identified, obtained and preserved, family and support factors, emotional factors, state and federal programs.

Question 6

What are the Federal programs for Special Needs

Answer 6

Special Education Program, SSN and SSI, Disabled Veterans

Question 7

What are the state programs for special needs

Answer 7

residential services, transportation respite care and family support