1. tj is 26 years old. next week he starts a new job with a much higher salary than his previous job. he is…

1. tj is 26 years old. next week he starts a new job with a much higher salary than his previous job. he is single and does not have any loans. he plans on investing a part of his new paycheck.\n2. june is 30 years old and a single mother with two children, ages 10 and 12. she is saving money to help pay for their education. she wants them to go to college. it will be six years before she needs money to help her first child with college.\n3. erica is 62 years old, in good health, and enjoys her job as a teacher. her husband also works. their children are grown and do not depend on them financially. tina and her husband plan on retiring in three years.\n4. sam is 35 years old and works as a cook at a diner. his job does not pay much so he struggles to pay his rent and buy groceries. he and his wife have a three - month old baby. his grandmother passed away recently and left a $5,000 inheritance. sam wants to invest this money.\n5. blair just celebrated her 20th birthday. she will graduate from college next semester. her parents have paid all her college costs and have promised to buy a small house for her when she graduates and starts her first job. blair works on the weekends and during the summer. she has saved several hundred dollars with the goal of investing the money.

1. tj is 26 years old. next week he starts a new job with a much higher salary than his previous job. he is single and does not have any loans. he plans on investing a part of his new paycheck.\n2. june is 30 years old and a single mother with two children, ages 10 and 12. she is saving money to help pay for their education. she wants them to go to college. it will be six years before she needs money to help her first child with college.\n3. erica is 62 years old, in good health, and enjoys her job as a teacher. her husband also works. their children are grown and do not depend on them financially. tina and her husband plan on retiring in three years.\n4. sam is 35 years old and works as a cook at a diner. his job does not pay much so he struggles to pay his rent and buy groceries. he and his wife have a three - month old baby. his grandmother passed away recently and left a $5,000 inheritance. sam wants to invest this money.\n5. blair just celebrated her 20th birthday. she will graduate from college next semester. her parents have paid all her college costs and have promised to buy a small house for her when she graduates and starts her first job. blair works on the weekends and during the summer. she has saved several hundred dollars with the goal of investing the money.

Answer

Brief Explanations:

  1. TJ is young, single, with a higher - new salary and no loans. He can take more risks, so high (H).
  2. June is a single mother saving for children's education. She has a long - term goal but also responsibilities, so medium (M).
  3. Erica is close to retirement. She should be more conservative, so low (L).
  4. Sam has financial struggles and a new baby. He can't afford to lose the inheritance, so low (L).
  5. Blair is young with financial support from parents. She can take some risks, so medium (M).

Answer:

  1. H
  2. M
  3. L
  4. L
  5. M