Setting Financial Goals. Ask friends, relatives, and others about their short-term and long-term financial goals. What are some of the common goals for various personal situations? Using Personal Financial Planner Sheet 3, create one short-term and one long-term goal for people in these life situations:

(a) a young single person,

(b) a single parent with a child age 8,

(c) a married person with no children, and

(d) a retired person.

LO1-4,5