Which of the following is usually considered a long-term financial strategy?
A)creating a budget
B)using savings to pay off a loan early
C)renting an apartment to save for the purchase of a home
D)investing in a growth mutual fund to accumulate retirement funds
E)purchasing life insurance to cover current needs of dependents

Question

Quizplus · Accepted Answer

Investing in a growth mutual fund to accumulate retirement funds is usually considered a long-term financial strategy, as it involves a substantial investment over a period of several years with the aim of accumulating funds for retirement. Creating a budget, using savings to pay off a loan early, renting an apartment to save for the purchase of a home, and purchasing life insurance are all important financial strategies but may be considered short to medium-term strategies.

Which of the Following Is Usually Considered a Long-Term Financial