The Jones family has scheduled an initial visit with a financial planner. Mr. Jones has an annual salary of $70,000 and this is their first attempt at financial planning. Which of the following should be the first step taken by the financial planner?
A) Establish an emergency fund.
B) Set goals and dates for reaching them.
C) Pay off credit card debt.
D) Determine a reasonable fee for designing the plan.
Answer: A) Establish an emergency fund.