One way of looking at goals and meeting them is suggested by Grace W. Weinstein in her book ``The Lifetime Book of Money Management'' (NAL Books, $19.50). She calls the method ``life cycle planning.'' It's based on events and goals at various stages of one's life. In part, the list goes like this: Ages 18-24 Establish household.
Train for career.
Identify long-range goals.
Begin to attain financial independence.
Start a savings program.
Establish a credit identity.
Begin to invest.
Develop a financial recordkeeping system. Ages 25-40
Provide for childbearing and child-rearing costs.
Provide for expanded housing needs.
Expand career goals.
Manage increased need for credit.
Invest for capital growth.
Build an education fund.
Expand insurance to meet expanding needs.
Write a will; name a guardian for children.
Involve every member of the household in financial management. Ages 41-50
Continue career development.
Provide greater income for growing needs.
Continue to build education funds; provide education for children.
Begin to develop estate plan.
Explore retirement goals.
Review and revise will as necessary. Ages 55-64
Evaluate and update retirement plans.
Concentrate on income-producing investments.
Reveiw insurance and reduce coverage where not needed.
Decide where to live in retirement.
Meet responsibilities for aging parents.
Review estate plan. Copyright 1983 by Grace W. Weinstein.