ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Any goal within a five-year window is considered short term; anything longer is (you guessed it) long term. Some short-term goal examples include buying a new car or paying down student loans, while long-term goals may be things like saving for retirement, paying for your kids’ education, or buying a vacation home.

Detailed explanation-2: -: occurring over or involving a relatively short period of time. : of, relating to, or constituting a financial operation or obligation based on a brief term and especially one of less than a year. : generated by assets held for less than six months.

Detailed explanation-3: -Short-term investments, also known as marketable securities or temporary investments, are financial investments that can easily be converted to cash, typically within five years. Many short-term investments are sold or converted to cash after a period of only three-12 months.

Detailed explanation-4: -Short-term planning is usually considered to take 12 months or less. Your daily, weekly, monthly, even quarterly and yearly goals – all can be filed under “short-term goals.” They are stepping stones that will help you to reach your big goal(s).