Short Term vs Long Term Goals: Difference and Comparison

We all have some goals to achieve in life. These goals have to be time-bound.

Based on time, categorize the goals into short-term and long-term goals.

Short-term goals are the goals that we want to achieve shortly. This can be three days, five days, one week, a month, or a year.

On the other hand, long-term goals are goals that have a timeline of 5 to 10 years.

Even the timeline given above can change from individual to individual. An individual’s age will also be a deciding factor for his short-term and long-term goals.

Key Takeaways

1. Short-term goals are achievable within a relatively brief period, such as days or months, while long-term goals require a more extended period, such as years or even decades.
2. Short-term goals often serve as stepping stones toward accomplishing long-term goals, providing motivation and momentum along the way.
3. Short- and long-term goals should be specific, measurable, attainable, relevant, and time-bound (SMART) to increase the likelihood of success.

Short Term vs Long Term Goals

The difference between short-term and long-term goals is that short-term goals are for less than 1 year, and long is for 5 years or more.

The best part of having goals is that you can start on a goal at any age in your life. While creating a goal for yourself, you must check that the goal is realistic.

If you create a goal that is difficult for you to complete, you will also get demotivated to complete your other goals.

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Comparison Table

Parameter of Comparison	Short Term Goals	Long Term Goals
Timeline	The timeline for short-term goals is around 6 months to 1 year maximum.	The long-term goals start with 3 years timeline and can run up to 20 years.
Number of Goals	A person is bound to have a lot of short-term goals in multiple categories.	There would be limited long-term goals in a person’s life.
Types of Goals	The type of goals that come under this umbrella are health, social care, and relationship related.	Financial goals and family-related goals are categorized under long-term goals.
Patience	Lesser patience levels are required in the case of short-term goals because of the satisfaction you get on completing a goal.	There is no immediate satisfaction from long-term goals, so a lot of patience is required.
Failure	There are fewer chances of failure with short-term goals because they require less effort.	There are more chances of failure in the case of long-term goals because of the distractions and unexpected circumstances in life.

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What are Short Term Goals?

Short-term goals have a small timeline to finish them. The type of goals that come under short-term goals is health-related relationships related.

The financial, savings, loans, and investment-related goals are long-term and hence do not come under short-term goals. However, some of the financial goals can be short-term, for example, when you are saving money to buy a book.

Some of the short-term goals can be completed within a few days and these are known as Ultra short-term goals.

When creating goals for yourself, you should pay special attention to short-term goals because when you complete short-term goals, they finally help you complete your long-term goals.

 

What are Long Term Goals?

The long-term goals have a timeline of 5 to 10 years. Even the goals that have a timeline of 3 years + also come under long-term goals.

The type of goals that come under long-term goals are related to finance and savings. Some of the health-related goals can also be long-term goals, as you may want to maintain a healthy lifestyle.

Since long-term goals require patience and effort to complete, they should be split into short-term goals.

For example, if you have a long-term goal of earning 1 million dollars, then first, you should have a short-term goal of earning $100,000 in one month. Similarly, if you have a long-term goal of owning a company of 100 people, then first you should start the work yourself and then gradually increase the number of people in your team.

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Main Differences Between Short-Term and Long-Term Goals

1. Short-term goals have a timeline of up to 1 year, and long-term goals have a timeline of 3 years plus.
2. For any individual, there would be Multiple short-term goals and fewer long-term goals.
3. The health-related and relationship-related goals are short-term goes, whereas luxury and finance-related goals and long-term goals.
4. Short-term goals require less patience than long-term goals
5. Short-term goals give the confidence to complete faster than long-term goals
6. An individual is bound to fail in the completion of long-term goals as compared to short-term goals.

References

1. https://careerwise.minnstate.edu/mymncareers/english-learner/long-term-goal.html
2. https://psycnet.apa.org/record/2000-07799-008
3. https://link.springer.com/article/10.1007/s11269-012-0051-z