Sophia Martin is assessing her balances. She expects to retire in the next year and has $675,000 in savings and investments and owns her own home that is worth $250,000. Which step in the financial planning process does this situation demonstrate?

Determining her current financial situation.

Explanation:

Under Financial planning processes, there are 6 major steps, viz

(1) determining your current financial situation

(2) developing financial goals

(3) identifying alternative courses of action

(4) evaluating alternatives

(5) creating and implementing a financial action plan,

(6) re-evaluating and revising your plan.

Sophia Martin is currently on Step 1 as she is currently assessing her balances, which means she is evaluating, gauging and estimating what she earns at the moment.

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

i think it is sales-oriented, but i am not sure