The five$-$step financial planning process is to establish goals, gather and analyze financial information, develop the financial plan, implement the financial plan and then to monitor the financial plan. If a plan falls apart, at which stage is it most likely to do so why?

Select one:

a$.$ Establish goals because most individuals are uncertain how to do time value of money calculations

b$.$ Gather and analyze financial information because the average investor is too disorganized and does not know the common ratios

c$.$ Develop the financial plan because this is often very time consuming

d$.$ Implement the financial plan, because it can be uncomfortable to stick to a budget that allows for the savings required to meet goals