Question

Long-term savings strategies are designed to:
A. make large nonessential purchases.
B. provide money to other family members.
C. expand wealth through investment.
D. help pay for monthly expensés.

The answer is (C) “expand wealth...”

Answer 1

Answer: C) expand wealth through investment

Explanation:

Answer 2

Long term savings strategies are designed to expand wealth through investment. Hence, option C is correct.

Investment

The Process of generating more income, wealth or capital by acquiring some bonds or assets is known as investment. There are many types of Investment, which are grouped into two forms, Short term and Long term investment.

The Short term investment are those which are made for less time period with a goal to increase in the value of money invested, while long term investment are the investment which increases an asset over time. Hence, option C is correct.

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