{"id":2715,"date":"2022-01-21T09:57:09","date_gmt":"2022-01-21T09:57:09","guid":{"rendered":"https:\/\/wealthface.com\/blog\/?p=2715"},"modified":"2022-02-16T09:10:36","modified_gmt":"2022-02-16T09:10:36","slug":"how-to-balance-short-term-and-long-term-financial-goals","status":"publish","type":"post","link":"https:\/\/wealthface.com\/blog\/how-to-balance-short-term-and-long-term-financial-goals\/","title":{"rendered":"How to balance short term and long term financial goals"},"content":{"rendered":"
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Most people who are clever about planning for their financial future will have a list of financial goals, and will have divided these up into long-term and short-term objectives. But while these two categories might seem clear-cut, in reality they are often in opposition to each other.<\/p>\n\n\n\n

Take, as an example, the choice of whether to buy a house. While it might make sense in the short term to avoid paying rent, and instead put this money toward an asset that you can later sell, in the long term it\u2019s often better to put the same money into a long-term retirement account so that it has the maximum possible time to grow.<\/p>\n\n\n\n

In this article, we\u2019ll take a look at this kind of compromise, and how to balance your short term goals against your long term objectives.<\/p>\n\n\n\n

Financial Goals: The Gray Area<\/strong><\/h3>\n\n\n\n

First, let\u2019s look at the types of financial goals that you should put into each category. Short-term goals, for instance, are items or projects that you will spend money on in the next few years. These can include:<\/p>\n\n\n\n