What is the final step of the financial planning process referred to by Alex?

The final step of the financial planning process is recognized as the post mortem or autopsy phase. This step involves reviewing and evaluating the financial plan's performance after a specific period of implementation. It allows individuals and financial planners to assess what worked well, what didn't, and why certain goals may not have been met. This reflective process ensures that financial strategies are aligned with clients' evolving goals and circumstances.

Conducting this review is essential for continuous improvement. It helps in understanding the effectiveness of the planning process, making necessary adjustments, and ensuring that future financial decisions are informed by past experiences. This systematic approach contributes to long-term financial success, reinforcing the importance of regularly revisiting financial plans to ensure they remain relevant and effective.

Regarding the other options, while investment analysis, net worth calculation, and goal setting are important components of financial planning, they do not represent the final assessment stage. They serve as preliminary steps that contribute to developing and implementing the financial plan rather than concluding the planning process.