What Kind Of Strategies Do You Take When Setting Financial Goals?
You can take different strategies when you set financial goals. Some people say, think for the long term, and put your money to achieve long-term goals. That's great when you think long-term. But it does not mean you put all your money into the long-term.
You need liquidity. You need to have cash inflow. Otherwise, you cannot meet the current demand and move on. So you should set short-term financial goals as well. You need to take short-term strategies for that. When you think about two to five years, you can take mid-term strategies. Of course, you have to take long-term strategies when you think about a long period of time, usually more than five years.
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I agree that a blended approach is best so that you're nimble and able to respond to changes in your financial situation. We all need more of that these days.
Here you are setting specific strategies based on your financial goals. And you will get the results accordingly. Thank you for your feedback!
I agree and that is why I don't mind working a job. It pays for any short-term approach but gives me room to invest in the long-term too.
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Yes, absolutely. You can plan and manage your finances the way you like in order to get the best outcome.