"Millennials" must plan for short-and long-term goals

If you’re one of the “millennials” — the generation that began in the early 1980s — you are still in the early stages of your career. Retirement must seem like a long way off — yet, it’s never too soon to start planning for it. At the same time, though, you may also have shorter-term goals. Can you make progress toward your near-term and long-term objectives at the same time?

Yes, you can — but you’ll need to match your short- and long-term goals with the appropriate savings and investment vehicles. For example, one of your most important short-term goals may be purchasing...