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

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Retirement is an example of what type of goal?
Choose wisely. There is only one correct answer.
Long-term goal. Retirement is an example of a long-term goal that will take years to achieve.
2.
Different types of goals can be met with different savings vehicles.
Choose wisely. There is only one correct answer.
True. Different types of goals can be met with different savings vehicles.
3.
You can set up an automatic investment plan with a state college savings plan to help save for a childs college education.
Choose wisely. There is only one correct answer.
True. Setting up an automatic investment plan with a state college savings plan will help fund a childs college education.
4.
What is one mid-term savings goal?
Choose wisely. There is only one correct answer.
Buying a new car. Buying a new car is a mid-term savings goal.
5.
What is an appropriate savings vehicle for a short-term goal?
Choose wisely. There is only one correct answer.
A savings account. A savings account is an appropriate savings vehicle for a short-term goal because it isnt very risky.