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Short-term goals. Long-term goals. Vacation. Retirement. Down payment for a car or house. Opening a business. Deposit for a new apartment. Paying for a child’s education
“For short-term goals, like buying a car or taking a vacation within the next 1-2 years, a short-term CD or a conservative bond fund can offer a balance between growth and capital preservation ...
“For shorter-term goals, it is best to ensure your money is easily accessible and not likely to fluctuate in value significantly.” Here’s a high-level comparison of saving and investing. Saving
Buffett advises against worrying about short-term fluctuations in stock prices or the ups and downs of S&P 500 index funds. Instead, focus on the long-term potential of your investments.
Let’s say that you set aside $10,000 in a high-yield savings account that earns 4.50% APY. You’ll earn about $450 in guaranteed interest over the first year while keeping your money protected.
We're not even two months into 2023, and if you didn't make a New Year's resolution about your finances, it isn't too late. But, you wonder, where do you even start, given everything you hear about...