At any given time, you might be working towards achieving multiple financial goals. Not all of these will be long-term goals like retirement. You might need to reach some goals like saving for a new car or downpayment for a new house much sooner. Depending on how near or far in the future a particular goal is, your risk-taking ability for different goals will vary. As a result, you cannot rely on a single investment strategy to ensure that you stay on track to achieve all of these goals. So, you will need to implement different wealth creation strategies that are customized to each financial goal. 

Bottom Line

Wealth creation is a continuous process. You need to make a plan and stick to it so that you can meet all your goals. Plus there is no one-size-fits-all wealth creation solution as each individual has unique goals, risk tolerance, etc. So, choosing the right investment that can help you achieve your goals plays a key role in ensuring you succeed in creating wealth over time.

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