longterm

Long-term is a term used to describe a period of time extending well beyond the immediate present. It is usually contrasted with short-term, which refers to shorter intervals. The exact duration is dependent on context, but common distinctions place long-term in the months-to-years or decades range. As an adjective, long-term modifies nouns such as goals, investments, plans, or effects; as a noun phrase, "the long term" refers to the extended future.

In finance and economics, long-term denotes horizons of five or more years for investments, planning, and liability management. In project management and policy, long-term planning addresses outcomes over multiple years or decades. In health and safety, long-term effects or risks are those that persist or emerge after a prolonged period following exposure or intervention.

Long-term thinking emphasizes durable outcomes, compounding effects, and resilience. It contrasts with short-term incentives that may prioritize immediate gain over sustainability, causing misalignment in areas like corporate governance or environmental policy. However, long-term approaches can be hampered by uncertainty, changing conditions, and the cost of delayed benefits.

Spelling: in American and British English, the standard compound is long-term, with a hyphen when used as a modifier. "The long term" is correct when used as a noun phrase. Some informal or brand-like uses write "longterm" as a single word, but this is nonstandard.

See also: time horizon, long-term memory, long-term goals, strategic planning.