If you want financial security, you need to create a long term financial goal. Long term financial goals means you save and invest for a long term and you also continuously compound your profits. Setting long-term financial goals starts with a long term planning, for instance saving x amount of money every month for 20 years or investing y amount for 15 years. You should save and then invest your saving. You also need to build savings as a hedge against market risk. Focus on regular investments and compounding returns. You also need to save under different category such buying property, building retirement funds or emergency funds.
How to Create a Long-Term Financial Goal
- Thread starter Mika
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If you want financial security, you need to create a long term financial goal. Long term financial goals means you save and invest for a long term and you also continuously compound your profits. Setting long-term financial goals starts with a long term planning, for instance saving x amount of money every month for 20 years or investing y amount for 15 years. You should save and then invest your saving. You also need to build savings as a hedge against market risk. Focus on regular investments and compounding returns. You also need to save under different category such buying property, building retirement funds or emergency funds.
A long term financial goal is a small term financial goal that you're consistent at, for example if I want to make a million dollars, all I have to do is to map out how I can save my way or create a business that allow me freedom and help me reach my goal without any constraints and a million dollars is the goal long term, but it could mean building a business that allows me profit 30,000 monthly and within 3 years I will achieve my goals.
Long term goals are short term goals that you're religiously consistent at.
Long term goals are short term goals that you're religiously consistent at.