How do I set short-term and long-term investing goals?
Most people have the best intentions, yet often fail to write down specific goals they desire to reach financially. Your goal is to determine in clear and simple terms what your short-term and long-term goals are by asking questions. You help yourself by asking questions of your spouse to draw out your priorities. One way to do this is by making a list of what is important to each of you, listing from most important to least important. Compare your lists so that both of you have your priorities included. Then integrate them and begin formulating a plan to get there. Short-term goals can be something you want to save for or purchase within the next month, this calendar year, or the next two to three years. It is helpful to explore a simple tool called a “Needs and Wants” list. Brainstorm what you need versus what you want. List them.
