Term
|
Definition
| Factors about the way a person lives and works that affect his/her financial income, needs, and expenses. |
|
|
Term
|
Definition
| A set of consecutive ages that tend to have similar incomes, needs, and expenses. |
|
|
Term
|
Definition
| People who rely on another person for primary financial support---e.g., children, spouse, other family members. |
|
|
Term
|
Definition
| The state of the economy, whether favorable or unfavorable, as measured by economic indicators, including interest and unemployment rates. |
|
|
Term
|
Definition
| The highest grade in school or degree completed. |
|
|
Term
|
Definition
| A person's work circumstances, whether employed or unemployed, full-time or pert-time, self- or other-employed. |
|
|
Term
|
Definition
| A person's health factors,whether sick or well, able or disabled, injured or not. |
|
|
Term
|
Definition
| Whether married or single, divorced, seperated, etc. |
|
|
Term
|
Definition
| Typical stages of wealth a person accumulates during the life cycle. |
|
|
Term
|
Definition
| The sum total of assets belonging to one person---including money, property, and personal possessions. |
|
|
Term
|
Definition
| The stage during which most people form a family, begin to work and earn money. |
|
|
Term
|
Definition
| The stage that includes the peak earning years, giving money to oneself. |
|
|
Term
|
Definition
| The stage of retirement and wealth consumption, money given to chosen ones. |
|
|
Term
| Individual and Family Life Cycles |
|
Definition
| Typical stages of life for individuals and families. |
|
|
Term
|
Definition
| A family of young adults who marry; newlyweds. |
|
|
Term
|
Definition
| A child-bearing family; has one or more young children. |
|
|
Term
|
Definition
| A developing family, with children growing into middle childhood and early teens. |
|
|
Term
|
Definition
| A family with middle-age parents and children leaving home for college, etc. |
|
|
Term
|
Definition
| A pre-retirement famly, no children at home. |
|
|
Term
|
Definition
| A family of elderly adults, usually retired. |
|
|
Term
|
Definition
| Families that do not follow the “typical” life cycle stages. |
|
|
