Advisors and their clients are watching these trends heading into 2022 (U.S. News, 22 Dec 20211 ) Investors and financial advisors are not entering 2022 in the same headspace as they started 2021.They're rethinking many aspects of financial planning, such as what retirement will really be like and if it's worth waiting for. They're also worried about inflation, volatility and taxes, all of which are factors that will shape the financial advising landscape heading into 2022. The coronavirus pandemic, which is entering its third year, brought many of these questions and concerns to the forefront of advisors' and clients' minds. For advisors eyeing where the next year will lead them, here are the top financial advising trends for 2022:  Rethinking retirement: "According to Dr. Coughlin, because the pandemic meant we were spending so much time at home, it made us reevaluate things like where we live, how we work, with whom we spend time, how we get around, what we do for fun and how we leverage technology," says Ryan Sullivan, managing director of applied insights at Hartford Funds. As a result, many Americans now have a much better idea of what retirement life might actually be like.  "Bucket list living.": Retirement planning should be more about enjoying the journey than focusing solely on the destination. "After nearly two years of constrained travel ability, many people are looking to travel more, not only in retirement, but much more in the near future as well," says Brad Levin, managing director and senior wealth advisor at The Colony Group.  Preparing for inflation: Inflation will continue to be a key concern in 2022, says Brian Stivers, investment advisor and founder of Stivers Financial Services.  Less holding, more momentum: The buy-and-hold strategy has been the most popular investment technique of recent decades. "it makes sense to reallocate into equities when the trend, and momentum, is moving upwards and to reallocate to a defensive position, such as bonds or cash, when the momentum, or trending information, is tracking downwards," says Brian Stivers, investment advisor and founder of Stivers Financial Services.  Advanced tax planning: Most advisors have heard the news that the federal estate, gift and generationskipping transfer taxes are increasing in 2022.  Hybrid client communications: The pandemic forced many advisors to adopt a virtual meeting style with clients, but advisors may not want to be too quick to abandon the practice. "As things continue to normalize in 2022, financial professionals should consider permanently implementing a hybrid model that blends in-person client interactions with continued virtual engagement," Sullivan says.

Describe and explain the changing trend of financial planning before and after the COVID-19 Pandemic.

B) Mr. Hung, aged 32, engaged. He is a merchandising team head of a trading company at a monthly salary of $25,000. He is living with parents and is planning to rent an apartment after getting married.

(i) Identify the stage of life cycle of Mr. Hung. Address two financial concerns in this stage.

(ii) State the criteria for setting the financial goal. Briefly explain.

(iii) Try to set one short-term financial goal and one long-term financial goal for Mr. Hung.