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Financial Planner

Category - Retirement Savings and Income Planning

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What are the phases of planning for retirement called?

Earning phase, saving phase, spending phase
Earning phase and saving phase
Saving phase, spending phase, and distribution phase
Saving phase and distribution phase

Explanation

Answer: D - There are two distinct phases in retirement planning: the saving phase, where the individual plans and saves for retirement, and the distribution phase, where the individual plans to meet the spending needs through retirement.

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