Financial Goals and Planning

What are short term financial goals?

• Goals you want to achieve in less than a year

• Goals you want to achieve in one to five years

• Goals you want to achieve in more than five years

• Goals you want to achieve in the current month

Which of the following is an example of a short term financial goal?

• Buying a car

• Saving for retirement

• Paying off a small debt

• Leaving a legacy

What is the risk level associated with short term financial goals?

• Low

• Moderate

• High

• Very high

What is the recommended strategy to reach short term financial goals?

• Budget and save in a bank account or a money jar

• Plan and invest in a mutual fund or a certificate of deposit

• Project and invest in a stock or a bond

• None of the above

What are medium term financial goals?

• Goals you want to achieve in less than a year

• Goals you want to achieve in one to five years

• Goals you want to achieve in more than five years

• Goals you want to achieve in the current month

Which of the following is an example of a medium term financial goal?

• Saving for a trip

• Buying a house

• Saving for retirement

• Leaving a legacy

What is the risk level associated with medium term financial goals?

• Low

• Moderate

• High

• Very high

What is the recommended strategy to reach medium term financial goals?

• Budget and save in a bank account or a money jar

• Plan and invest in a mutual fund or a certificate of deposit

• Project and invest in a stock or a bond

• None of the above

What are long term financial goals?

• Goals you want to achieve in less than a year

• Goals you want to achieve in one to five years

• Goals you want to achieve in more than five years

• Goals you want to achieve in the current month

Which of the following is an example of a long term financial goal?

• Buying a new phone

• Saving for college

• Paying off a small debt

• Saving for retirement