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List and describe three personal financial goals: 1 short term goal (3-24 month time frame), 1 mid-term goal (2-5 year time frame) and 1 long term goal (5+ year time frame). Clearly describe the goals and describe, in detail, the steps needed to reach these goals.

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Jean Keeling
Jean KeelingLv2
28 Sep 2019

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Related questions

1. (TCO 5) If an investment objective is considered to be intermediate term, then this means the goal should be achieved in what time frame? (Points : 1)
Less than 2 years
Over 10 years
More than 5 years
In 1–5 years
None of the above
Question 2. 2. (TCO 5) Good advice for a potential investor starting an investment program includes all but which of the statements below? (Points : 1)
Work to balance your budget.
Increase credit purchases and make installment payments in order to increase cash available for investing.
Establish specific and measurable investment goals.
Start an emergency fund.
Establish a line of credit.
Question 3. 3. (TCO 5) Which of the following statements accurately describe a line of credit? (Points : 1)
A line of credit is already approved before the money is actually needed.
A line of credit is not available immediately when needed.
A line of credit cannot be obtained at a credit union, savings and loan association, or bank.
A line of credit cannot provide an alternative source of funds if an emergency does develop.
A line of credit is a long-term loan.

I want to open an online business and sell specially designedathletic wear for larger women. I need to construct a preliminaryplan to raise capital to get things going. (Angel investors,partnerships. etc). I need to thoroughly detail my long-term goals,including a one and five-year goal for the business. (In one year,would like to be showing a profit, and within 5, just be astakeholder, with no active role). (My goals at this time are tofind initial investors, so I can produce some of the clothes, toshow them that my business model is viable). I also need to asummary of my financial needs, (budget for manufacture of goods,setting up my website, payment system/I have chosen Stripe, do apreliminary cash flow statement (have no actual figures at thistime), and decide on long-term plans for the business. I want thecompany to be self-sufficient in 2-3 years, when I can sell mymajor interests, but still receive a percentage of the revenue. Howshould I do this?

This is

Scenario 1 Financial Goals

Lisa is getting married during memorial-day weekend and is excited to start her new life. She has a shared her financial data with you: Monthly income: $2400 Living Expenses: $2200 Savings: $3000 Student Loans: $35000 Credit card debt: $1500 Lisa has many dreams– like buying a new car and going to Hawaii in December. She also wants to pay off her credit card debt and student loans. She wants to buy a house in the next 5-7 years, and eventually start saving for retirement and for her child’s college education. She does not know where to start and you know that she needs to convert her dreams into clearly defined goals. Identify what her short term, intermediate, and long term goals are and explain to her the importance of SMART financial goals in her financial planning process

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