as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what characteristics does a sound financial plan have?
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a sound financial plan should have clear objectives and goals, appropriate strategies and solutions to reach those goals, a review and update process, and an awareness of tax implications. it should also be tailored to an individual's needs, offer an appropriate balance between risk and return, and incorporate cash flow management to ensure adequate resources are available when needed.
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