Aim for shorter rather than longer, but reader understanding should trump laziness to type every single time.
As others have said, variable name length shouldn't obscure logic or algorithm. For example, in arithmetic, we write
( 1 + 5 ) * 3 = 18
rather than
three multiplied by the sum of one and five equals eighteen
because we are trying to draw attention to other things than the clarity of the elements involved in the expression.
I tend to keep variables to one to three words, abbreviating only when I exceed 24 characters or so. The less frequently a variable is used, the more likely I am to feel free to make the variable name long. More frequently used variables I will make shorter.