An example of a long-term financial goal is:

Saving for retirement is a quintessential example of a long-term financial goal, as it typically requires a significant amount of time and planning to accumulate sufficient funds to support oneself in later years when one is no longer working. This process involves setting aside money regularly over many years, often into retirement accounts, to ensure financial security during retirement.

In contrast, buying groceries and paying monthly bills are examples of short-term financial obligations; they are recurring and need to be managed on a regular basis. Taking a short vacation, while it can be planned and saved for, generally does not require the lengthy commitment often associated with long-term financial planning like retirement does. Hence, saving for retirement stands out as a goal that requires years of commitment, strategic planning, and saving, emphasizing its status as a long-term financial objective.