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Meeting goals by stages, from school to retirement

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.

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Identify long-range goals.

Begin to attain financial independence.

Start a savings program.

Establish a credit identity.

Begin to invest.

Buy insurance.

Develop a financial recordkeeping system. Ages 25-40

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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.

Diversify investments.

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.