The way an investor plans to use the money can alter the
effective timeframe. For example:
If the money is to be withdrawn as a systematic
withdrawal When the money is withdrawn from an investment over an extended timeframe,
equal to half or more of the total investment timeframe.
to provide income over a number of years, it will lengthen the effective
timeframe. In
this case, we can consider altering the asset mix to include more equities.
If the money is to be used all at once, as a lump sum, there is no change to the effective timeframe and no changes should be made to the asset mix.