What are financial goals? 5 smart things to know

1.When goals are expressed in terms of money and timelines, they become . 2.Buying a house is a goal, but when expressed in terms of the number of years and money needed to buy it, it becomes a financial goal. 3.Financial goals can be categorised as short, medium and long term, depending on the time needed to achieve these.

4.Financial goals can also be categorised in terms of priority. These can be high priority, like retirement planning or kids’ education, or low priority like buying a . 5.Financial goals, along with the risk profile of , are two factors that decide the allocation of portfolio. (Disclaimer: The opinions expressed in this column are that of the writer.

The facts and opinions expressed here do not reflect the views of .).