Keep this one rule in mind and you won’t go wrong in planning for and meeting your goals. Don’t invest for short-term goals and don’t save for medium and long-term goals.
That said, here’s how I define short, medium, and long-term.
- Short-term: Less than or equal to one-year
- Medium-term: Greater than one-year but less than or equal to three-years
- Long-term: Greater than three-years
[sniplet tip tuesdays]