Port Mgt - Investment Time Horizons

As longer time horizons indicate a greater ability to take risk, well how long is considered a “longer time horizon”.

If a person is retiring at 60, and they are currently 53 years old. Is that 7 years considered a long time and therefore does the port mgr have more ability to take upon more risk for the client.

Some of these questions are so subjective. I came across one the other day where they stated the person was buying a “mercedes benz” without stating a nominal figure, no tax rate and a disposable income (after yearly expenses) of 700k.

long term is stated as 10 years in the text