Setting a retirement plan is an example of which type of goal?

A retirement plan exemplifies a long-term goal because it typically involves financial planning that extends over several years or even decades. Individuals set a retirement plan with a vision of where they want to be financially in the future, usually in their later years of life. This type of goal requires consistent saving and investment strategies that accumulate over time, making it essential to start early for adequate preparation.

In contrast, immediate goals involve actions or decisions that need to be addressed in the very near future, often within a few days or weeks. Short-term goals are generally set for a timeframe of a few months to a year, focusing on more immediate objectives that contribute to larger aspirations. Progressive goals might refer to stepping stones or milestones toward achieving a larger, overarching objective, but they don’t specifically define the long-term nature of retirement planning.

Thus, a retirement plan clearly aligns with the characteristics of a long-term goal by requiring foresight and a sustained effort over an extended period.