Achieving investment goals requires clear definition of goals, investment horizons and manageable portfolio risk. Given the levels of uncertainties associated with each key favorable, risks associated with achieving each outcome are high. Three investment goals sought by many investors are saving for a house purchase downpayment, accumulating funds for a college education, and building reserves to support retirement living objectives. Many investors face the pursuit of one or more of these goals at the same time. A review of the impact of time, return and risk can provide perspective on achieving important life goals.