カテゴリー 全て - income - maturity - dependence - growth

によって megan lynch 3年前.

124

Financial Lifecycle

The financial lifecycle encompasses distinct stages that individuals typically navigate from birth to retirement. Initially, during the dependence stage, individuals rely heavily on their parents or guardians for financial support and basic needs, benefiting from occasional gifts and government child benefits.

Financial
Lifecycle

Financial Lifecycle

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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.

Stage 5: Retirement

Age 70+
*Rely on pension for income. *Most have mortgage paid off. *more of a dependent on healthcare services.

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 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 2: Independence

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Age 21 - mid 30's

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*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

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