How Should You Pay for Short-term Financial Goals?
October 13, 2022
As you go through life, you will likely have long- and short-term financial goals. But how will your strategies for meeting your long-term goals differ from those needed for your short-term ones?
If you’re like most people, your biggest long-term goal is achieving a comfortable retirement. And for this goal, a common strategy is putting away money in tax-advantaged retirement vehicles, such as your 401(k) and IRA.
So, how should you go about preparing for shorter-term goals, such as a family vacation, home renovation, wedding or major purchase?
For starters, determine what your goal is,...
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