Strategy Beginner: Saving for Short, Mid and Long-Term Goals

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1.
You can set up an automatic investment plan with a state college savings plan to help save for a childs college education.
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True. Setting up an automatic investment plan with a state college savings plan will help fund a childs college education.
2.
What is an appropriate savings vehicle for a short-term goal?
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A savings account. A savings account is an appropriate savings vehicle for a short-term goal because it isnt very risky.
3.
What is one important long-term savings goal?
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Saving for a college education. One important long-term savings goal is saving for a childs college education.
4.
When establishing a mid-term savings goal, you must be able to save all the money you need to achieve that goal.
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False. When establishing a mid-term savings goal, you can save all or part of the money you need to reach that goal.
5.
Different types of goals can be met with different savings vehicles.
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True. Different types of goals can be met with different savings vehicles.