Paying for the expenses you anticipate in the next few years requires a cautious plan. You should focus on minimizing the risk to your assets and preserving your wealth. Make sure the money you’ll need a https://npfinancials.com.au/ in the near future is both secure and accessible.

Common short-term goals:

Buying a car
Making a down payment on a home
Taking a vacation
Returning to school for extra education and degrees
Getting married
Establishing your own business
Paying off credit cards, student loans and other debts

Possible investments for achieving short-term goals:

Savings accounts
CDs
Money market accounts
U.S. Treasury bills
Short-term bonds or short-term bond funds

Mid-term goals

Think about the next ten years, concentrating on what you hope to accomplish and the expenses you anticipate these goals will cost. Planning for mid-term goals means carefully balancing investment growth and financial security.

Common mid-term goals:

Paying for children’s education
Purchasing a larger home
Buying a second home or vacation home
Buying a boat or recreational vehicle