Select the correct text in the passage.

Which of the statements describes a medium-term financial goal?

On his last day of school, Michael sat down with his favorite professor to chalk out a personal financial for himself. He wanted to get started in
life as soon as possible and he went to set goals that he could direct himself to achieve. He already knew that he wanted to buy a house on his
own at some point. He wanted to save enough money for this.
Once he decided on this target, his professor suggested that he look for good college for further studies. They pointed out to him that he could
possibly get a student loan for this. They said that once he is done with his studies, he could pay off the loan.
His professor advised him, that he should keep an eye on retiring with the adequate luxuries. For this, they suggested that he think of a
pertinent retirement plan for himself.
Michael wrote down all the suggestions in his notepad. He also wrote down 'car, which he decided he would require to travel to college.

The statement that describes a medium-term financial goal is that "He already knew that he wanted to buy a house on his own at some point. He wanted to save enough money for this".

What is medium-term financial goal?

A medium-term financial goal is the goal that is more expensive than a daily goal which can be achieved in a short period of the time with discipline and hard work.

From the passage above, the statement that describes medium-term financial goal is where Michael mentioned about the idea of buying a house and making plans towards getting a financial aid.

Therefore, "He already knew that he wanted to buy a house on his own at some point. He wanted to save enough money for this", is the statement that describes a medium term financial goal.

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