What's a Monument?
Wikipedia's initial blurb on the subject does a good job of describing them, so we'll let it do the intro:
The Monuments are five classic cycle races generally considered to be the oldest, hardest and most prestigious one-day events in men's road cycling. They each have a long history and specific individual characteristics. They are currently the one-day races in which most points can be earned in the UCI World Tour.
Currently, the five monuments are: Milan San Remo, Tour of Flanders (aka RVV for its Dutch name of Ronde van Vlaanderen), Paris-Roubaix, Leige-Bastion-Leige, and Il Lombardia (which happens in the fall).
It's worth noting that there are other well-known and on the cusp of Monument status races such as Strade Bianche (~20 years old and introduced the idea of gravel to cycling races) and Amstel Gold Race in the Ardennes.
Monuments garner significantly more press coverage, as well as potential betting options (like top 10 options or 1-4 positions on each way bets) so it's worth marking them down in your calendar.