What is the difference between “ability to handle risk” and “willingness to take on risk”?

1)Explain why saving early is usually better than saving later. Give an example.2)Explain the impact of inflation on purchasing power. Give an example.3)Identify the costs that may decrease and those that may increase from pre-retirement to retirement.4)What are the factors affecting retirement planning? Explain each one of them.5)List and discuss the goals, objectives, and risks of estate planning?6)Describe the use of trusts in estate planning.7)What is the difference between “ability to handle risk” and “willingness to take on risk”? Explain and give an example.8)Describe the investment planning process.