What is Time Horizon?
Mark Dorfman:
So time horizon is different for each person. If you're in your 20s, you have a very different time horizon than someone who might be in their 30s, 40s, 50s, 60s, or 70s. So time horizon is specific actually to what you need the money for. If your time horizon is tied to the question of your retirement plan, then you could look down road to maybe when you're 65, 70 years old, if you're going to take a traditional retirement approach. But your time horizon could very well be 50, if you want to retire early and you think you can bank enough assets to do that. Time horizon might also have to do with things such as buying a house. Could very well be a mid 20s, 30 year old trying to save some money, but your time horizon is for a home. A home purchase time horizon could be three to five years out, where a retirement plan's time horizon could be decades out. So time horizon is different. You can't just fill out a form and know what your time horizon is. You need to work with a qualified financial advisor who can help you think through what the goals are for each bucket of money that you have. If you have questions about your time horizon and you want to just chat about it, feel free to shoot me an email or give us a call. Be happy to discuss that.
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