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Describing a plan, strategy, security, or anything else with a term of longer than one year. The exact number of years varies according to the usage. For example, a long term financial plan outlines investment and other financial goals for any time more than one fiscal year, while a long term bond has a maturity of 10 or more years. Anything long term involves more uncertainty than anything short term because, generally speaking, market trends are more easily predictable in the short term. Thus, while planning for the long term is necessary, one's plan must be flexible to account for its inherent uncertainty.
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