“Investing for retirement is a decade’s long process. Both in the accumulation phase and then in the spendown phase, so you’ve gotta play the long game. There is no shortage of material around to tell you how to invest for the long-term, and I would say most FIRE blogs are concerned with this key goal.
However, there are times in your life where you may have a short-term goal, such as saving for an older child approaching college years, or replacing a car in a few years. These are near-term spending requirements that you might want to meet with a saving strategy. But the key question is, if you save for a near-term goal, then what investment strategy will maximize your probability of meeting that goal?”