What term describes goals set to be achieved in about 10 or more years?

The term that describes goals set to be achieved in about 10 or more years is long-term goals. These goals typically require significant planning and effort over a sustained period, often involving substantial life changes or commitments. Long-term goals can include objectives such as saving for retirement, purchasing a home, or funding a child's education.

Setting long-term goals is essential for personal finance as it helps individuals focus their savings and investment strategies, ensuring they allocate resources effectively to meet these larger life objectives. In contrast, short-term goals are typically focused on achievements within one year, intermediate-term goals are between one and ten years, and immediate goals involve actions taken in the very near future. Understanding the timeline and categories of goals is crucial for effective financial planning and achieving overall success.