Lifestyles and Stages of Life
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Lifestyle Conditions | Factors about the way a person lives and works that affect his/her financial income, needs, and expenses
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| age | A set of consecutive ages that tend to have similar income, needs, and expenses
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| dependents | People who rely on another person for primary financial support---e.g., children, spouse, other family members
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| economic outlook | the state of the economy. whether favorable or unfavorable, as measured by economic Indicators, including interest and unemployment rates
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| education level | The highest grade in school or degree completed
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| employment status | A person's work circumstances, whether employed or unemployed, full-time or part-time, self-or other-employed
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| health condition | A person's health factors, whether sick or well, able or disabled, injured or not
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| marital status | Whether married or single, divorced, separated, etc.
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| Financial Life Cycle | Typical stages of wealth a person accumulates during the life cycle
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| wealth | The sum of total assets belonging to one Person---including money, property, and personal possesions
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| basic wealth potection | The stage during which most people form a family, begin to work and earn money
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| wealth accumulation | The stage that includes the peak earning years, giving money to oneself
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| wealth distribtution | The stage of retirement and wealth consumption. money given to chosen ones
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| Individual and Family Life Cycles | Typical stages of life for individuals and families
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| beginning family | A family of young adults who marry, newlyweds
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| expanding familiy | A child-bearing family; has one or more children
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| parenting family | A developing family, with children growing into middle childhood and early teens
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| launching family | A family with middle-age parents and children leaving home for college, etc.
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| mid-years family | a pre-retirement family, no children at home
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| aging family | A family of elderly adults, usually retired
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| variations | Families that do not follow the "typical" life cycles stages
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Created by:
bernalge
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