Go for the goal.

A winning strategy for achieving your financial objectives

You've had a vigorous financial workout over the past few months and now you're ready for results. After all, your mastery of savvy budgeting, penny-pinching, and credit card use was a means to an end. So, what should you expect?

This piece will provide you with the guidance you need to secure your financial future.

When determining your financial objectives, consider your age. As a general rule, subtract your age from 100 to arrive at what percentage of your assets should go toward aggressive investments. For example, a 25-year-old should invest 75% of their assets in stocks or mutual funds (see "Investing for All Seasons," October 1999). In Girl, Get Your Money Straight (Broadway Books, $19.95), author Glinda Bridgforth outlines specific benchmarks for people in their 20s, 30s, 40s, 50s, and 60s. Younger folks are encouraged to establish good habits--such as saving 10% of their income and minimizing credit card debt--earlier rather than later. More mature individuals should consider paying off their mortgage, investigating long-term care alternatives, and designing a plan that will help them manage their retirement income. According to Robert Pagan, financial advisor for Mount Vernon, New York-based Vernon & Associates, "As you get older, your investments should be more conservative in nature."

What other steps can you take to achieve your financial goals? Experts offer the following advice:

* Max out your 401(k) and IRA contributions. According to Pagan, you should start investing in a 401(k) plan as soon as you can. A regular cash reserve should already be in place when you decide to start investing. Pagan recommends devoting 10% of your earnings to investment ventures throughout your lifetime. By investing in a 401(k) plan, you reduce your taxable income and get in the habit of saving. Participation in both a 401(k) plan and an IRA account will provide you with a substantial start to planning for your retirement. There are rumors that Social Security could be phased out at some point so that "makes it all the more important that we start saving to ensure our financial security," says Pagan.

* Invest in mutual funds. Mutual funds are a safe way to invest your money. According to Baunita Greer, financial analyst of New York-based Cromwell, Miller & Greer Inc., since mutual funds diversify their portfolios, their risks are minimized. They also provide you with the opportunity to invest small portions of your money on a monthly basis. Plus, mutual funds are managed by professional analysts who regularly monitor these funds.

* Limit credit card use. Pagan recommends owning one credit card and one charge card. Credit cards and charge cards should be used as infrequently as possible, say, in emergency situations. You should always pay the monthly bill on time and credit cards should never be viewed as long-term loans.

* Have a financial planner review your goals, Your financial portfolio can always be revised, so you should occasionally seek outside expertise to ensure that you are on the right track. Pagan says that relying on an expert is especially useful to those who don't have the time to do the research necessary for investing their money. The economy is constantly changing, so it is important to have access to the most up-to-date advice. A financial planner can provide that.

* Join an investment club. According to Greer, an investment club is a great educational tool. As a member, you are forced to put aside money and you also have the opportunity to learn from other members' investing experiences.

With these guidelines in place, your workout is complete. Use these strategies throughout your life, and you're guaranteed to reach your financial goals in record time.