Reaching your goals.
The variety of saving and investment vehicles can
be overwhelming. So here are some tips. When you
outlined your dreams, you also wrote down how long
you have to reach them. That information can help
you choose the appropriate savings vehicles.
Short-Term Goals – These are items that you intend
to purchase within the next year or two, such as a
new computer or a vacation. For short-term savings,
think safety. Some of the vehicles that are appropriate
for short-term savings include a savings account,
a certifi cate of deposit (CD), or a money market
account. These accounts offer a lower rate of return,
but are also low risk.
Intermediate-Term Goals – These are goals that you
will need to meet within a fi ve to ten year time frame.
They can include things like a down payment on a
home or college tuition. When you have a little more
time to save, you have the option to use vehicles with