mile·stone

[mahyl-stohn]
noun
1.
a stone functioning as a milepost.
2.
a significant event or stage in the life, progress, development, or the like of a person, nation, etc.: Her getting the job of supervisor was a milestone in her career.

Origin:
1740–50; mile + stone

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Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
milestone (ˈmaɪlˌstəʊn) [Click for IPA pronunciation guide]
 
n
1.  a stone pillar that shows the distance in miles to or from a place
2.  a significant event in life, history, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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00:10
Milestone is always a great word to know.
So is lollapalooza. Does it mean:
a screen or mat covered with a dark material for shielding a camera lens from excess light or glare.
an extraordinary or unusual thing, person, or event; an exceptional example or instance.
Etymonline
Word Origin & History

milestone
1746, from mile + stone (n.).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
News survey form struck me the same way, as a kind of milestone.
Education contributes to learning, which is a milestone on the way to wisdom.
It could turn out to be a milestone for quantum computing.
Three years later than planned, this milestone is likely to be met.
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