What is an example of a financial goal?

Saving for retirement is an excellent example of a financial goal because it represents a specific, measurable target that individuals set for their future financial security. This goal involves creating a plan to accumulate sufficient resources to support oneself after leaving the workforce, typically through methods such as contributing to retirement accounts (like 401(k)s or IRAs) or having other investments lined up for the long term.

Setting this type of goal often requires careful planning and budgeting, making it essential to establish timelines, consider desired retirement lifestyles, and calculate projected expenses in retirement. By having a clear financial goal like saving for retirement, individuals can make informed decisions about spending, saving, and investing that directly align with their long-term objectives.

The other options do not represent clear, quantifiable financial goals. Gambling wisely does not indicate a specific financial aim and can carry inherent risks. Maintaining a balanced credit card reflects responsible credit management but is more of a behavior than a goal. Investing in risky stocks lacks a defined outcome or target, as it can lead to rewards or losses rather than a structured plan for achieving financial security.