Family Finances

Advising on Short-Term Goals for the Long-Term Future

May 30, 2019  • Amanda Umpierrez

Key Points

  • How can financial advisers focus on retirement security if many participants are still figuring out shorter-term stability?

“Similar to long-term retirement planning, short-term financial goals are significant to a worker’s overall financial satisfaction and security.

The setting and achievement of shorter-term goals are important to retirement plan participants because they create financial buffers, says Sheida Elmi, a research program manager at The Aspen Institute Financial Security Program (Aspen FSP).

Elmi’s firm recently released a report on the importance of short-term savings goals in any long-term financial plan. The study argues that short-term “cushions” are the building blocks of progress on longer-term goals and wealth protection.”

Read the full article here

Family Finances
Short-Term Financial Stability: A Foundation for Security and Well-Being
April 24, 2019 • Financial Security Program