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