Through out the time, we keep on mentioning about investment goals and our investment vehicles must be tailored to suit our investment goals. But then do we really know how to draw out our own investment goals and the quantum of each goals ranging from short, medium to long term.
And here is some examples of Investment Goals :
Short term (1-3 years)
- Overseas holiday
- Car
- Taking time off work to care for a baby
Medium term (3-7 years)
- Deposit on a house
- Boat
- A sabbatical or extended break from work
Long term (7+ years)
- Childrens' education
- Holiday house
- Retirement/early retirement
There is one thing we need to take note of is the key to successful investing which include identifying your investment goals, and the time frame over which you will invest. When you already have an investment goal well drawn out, you are in a head start for a successful investment. :)
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