The primary purpose of setting long-term financial goals is to help
A)measure financial success or failure
B)provide direction for overall financial planning.
C)acquire great wealth.
D)achieve a comfortable retirement.

Question

Quizplus · Accepted Answer

Long-term financial goals provide direction for overall financial planning, which can include smaller short-term goals. They help individuals make informed decisions about their finances and prioritize their spending and saving to achieve their desired outcomes.

Answer D can also be correct but "comfortable retirement" is just one of the many long-term financial goals an individual may have, so option B is the broadest and encompasses all possible long-term financial goals.

The Primary Purpose of Setting Long-Term Financial Goals Is to Help