Question: There are four steps in solving one's personal financial challenges: 1. considering opportunity costs 2. assessing risks and returns 3. setting short- and long-term goals

There are four steps in solving one's personal financial challenges: 1. considering opportunity costs 2. assessing risks and returns 3. setting short- and long-term goals 4. assessing needs and wants What is the correct order of these steps. Why the first one is necessary define and explain briefly the remaining three.

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