Which of the following is the best example of a long-term goal?

Earning a two-year college degree
Saving enough to fully pay for your children's college educations
Saving 15% of all your earnings*
Earning a total of $200 more per month

To determine which of the given options is the best example of a long-term goal, we need to understand the concept of long-term goals and assess each option accordingly.

Long-term goals are typically larger, broader, and require more time to achieve compared to short-term goals. They often span over months, years, or even decades. They contribute towards an individual's overall vision for their life and usually require consistent effort and planning.

Let's review each of the given options to see which one aligns more closely with these characteristics:

1. Earning a two-year college degree:
While obtaining a college degree is an important accomplishment, a two-year degree is considered a relatively shorter timeframe for completion. Therefore, it may be classified as a medium-term goal rather than a long-term goal.

2. Saving enough to fully pay for your children's college educations:
This option seems to align more closely with a long-term goal. Saving enough money to fully cover the cost of your children's college education implies a goal that may take many years to achieve, given the high cost of higher education.

3. Saving 15% of all your earnings:
Although saving a portion of one's earnings is a prudent financial practice, this option does not inherently represent a long-term goal. Rather, it describes a recurring action or habit (saving a percentage) rather than a specific objective with a defined end point.

4. Earning a total of $200 more per month:
This option seems more like a short-term goal as it focuses on a specific monthly increase in income. It does not provide a larger, long-term perspective or vision for an individual's life.

Based on the assessment, option 2, saving enough to fully pay for your children's college educations, is the best example of a long-term goal. It encompasses a broad objective that requires consistent and extended effort over a span of many years.