What type of plan may a financial adviser help an individual develop to prepare for retirement?

A comprehensive investment strategy is critical for retirement preparation as it involves assessing an individual's current financial situation, future income needs, risk tolerance, and investment goals. With this strategy, a financial adviser helps clients choose the right mix of assets, such as stocks, bonds, and other investments, tailored to grow their savings effectively over time. This plan not only focuses on wealth accumulation during the individual's working years but also considers how to draw down those assets efficiently during retirement, ensuring financial security throughout the retirement years.

In contrast, a personal health plan primarily addresses an individual's medical needs rather than their financial situation. An insurance claim plan relates to managing and filing claims for insurance, which does not pertain to retirement savings or investment strategy. Finally, a business expansion plan is focused on increasing a business’s market reach or capacity, which is unrelated to personal retirement planning.