Which of the following is a typical goal of personal financial planning?

Achieving financial independence and security is a central goal of personal financial planning because it encompasses the ability to meet current financial needs and future aspirations. Financial independence means having enough income, investments, and savings to support one's desired lifestyle without being overly reliant on employment or external sources of income. Security in this context refers to managing risks and ensuring that individuals are protected against unforeseen circumstances, such as job loss or health issues. By focusing on financial independence, individuals can create a tailored plan that includes budgeting, saving, investing, and risk management strategies to develop a stable and secure financial future.

The other options reflect objectives that are not aligned with the fundamental principles of effective personal financial planning. For example, maximizing tax liabilities is generally undesirable, as it contradicts the goal of minimizing expenses and optimizing financial resources. Continuous credit usage may indicate a reliance on debt rather than financial stability, and avoiding debt entirely can be impractical; instead, smart debt management is often encouraged as part of a balanced financial strategy. Therefore, the focus on achieving financial independence and security is the most relevant and beneficial goal of personal financial planning.