Financial
Lifecycle

Stage 2: Independence

Age 21 - mid 30's

*Taking up 1st full-time job
*Earn own income. Not dependent on parents.
*Find own place to live.(mortgage)
*Travelling the world.
*A lot of setbacks can occure at this stage

Stage 4: Maturity

Age Mid 50's to late 60's

*Reach the peak of career = income reaches max.
*Put children through school/college.
*Some retire early.

Stage 1: Dependance

Ages 0 - 20

*Living at home with parents/guardians
*Little income = Xmas, birthdays, communion.
*Depend almost entirely on parents .
*Gov. give parents Child Benefit €140 per child
up to the age of 18.

Stage 5: Retirement

Age 70+

*Rely on pension for income.
*Most have mortgage paid off.
*more of a dependent on healthcare services.

Stage 3: Growth/Development

Age mid 30's - mid 50's

*Wages can begin to rise.
*Most begin to settle and start families.
*A bigger sense of responsibility develops.
*Large mount of income spent on mortgage/rent.