$500/month for 10 years at 7% ≈ $86,500. Wait 5 years and contribute for only 5, and you land at $36,000 — same monthly deposit.

For goals under 3 years use a high-yield savings account or T-bills. For 5+ year goals use a diversified portfolio — the volatility smooths out.

Automate the transfer on payday. Every behavioural study shows automatic savers hit goals; manual savers do not.