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

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1.
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.
2.
One type of mid-term savings vehicle you can use to meet a mid-term savings goal is a(n) _______.
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Balanced mutual fund. You can use this to meet a mid-term savings goal.
3.
One long-term tool that employers offer to help save for retirement in a systematic way is a _______.
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401(k) plan. One long-term tool that employers offer to employees to help them save for retirement in a systematic way is a 401(k) plan.
4.
As you grow older, your savings goal may ________.
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Change. As you grow older, your savings goals are likely to change.
5.
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.