Personal Life Cycle Topic 11 Personal Life Cycle
- Slides: 7
Personal Life Cycle Topic 11
Personal Life Cycle 1. What age do most people leave home? 18 -25 25 -30 30 -35 2. Which of the following stage are you most likely to take a risk? Young adult, middle aged, pensioner 3. The stages of the personal life cycle are listed blow, add the ages to the stages! birth and infanthood childhood (up to 12 years of age) teenager (age 13– 19); young adulthood (age 18– 25) mature adulthood (age 26– 40) middle age (age 41– 54) late middle age (age 55– 65) old age / retirement (age 65 onwards) 4. At what age can you get a full time job and borrow money? 16, 18, 21 5. What percentage of babies are born to mothers above 25 yrs? 25% 50% 75% 6. What are do people on average get married? Groom 27 bride 24 or groom 36 bride 33 7. In 2012 what was the average of a first time house buyer? 25, 30, 35 8. Whose wages rise fastest professional or non professional over a lifetime? 9. Which is higher rate per hour the minimum wage or living wage? 10. What percentage of the workforce are self employed? 14 or 41 11. Which of the following best describes self employed people’s incomes? Regular amounts or irregular amounts
Save borrow 12. Which of the following are you likely to save for and which borrow for? Holiday House 13. Some events might happen others are likely to happen. Select the three that are likely to happen a) Buy a house b) Move overseas c) Get married or civil partnership d) Have children e) Lose your job f) Get divorced 14. People can plan and save for events such as retirement or buying a house, but for other events such as a loss of a partner what type of insurance could you take out to reduce risk? Life insurance, contents insurance, building insurance 15. What type of insurance would you take out to protect your house? Life insurance, contents insurance, building insurance 16. What type of insurance would you take out to protect the goods in your house? Life insurance, contents insurance, building insurance 17. When people can see the downside and they understand the risk, it becomes known as a? measured risk or financial risk 18. Which is a higher risk? Investing in shares or saving money in a bank 19. Which potentially offers the higher returns? ? Investing in shares or saving money in a bank 20. Which two of the following are likely to be ‘risk adverse’? Young adult, family man, woman nearing retirement
Key Terms Consequences Dependant Expenditure Flat pay structure Income Insurance Life cycle Life expectancy Non-professional career Premium Probability Professional career Redundancy Risk-averse
Personal Life Cycle 1. What age do most people leave home? 18 -25 25 -30 30 -35 2. Which of the following stage are you most likely to take a risk? Young adult, middle aged, pensioner 3. The stages of the personal life cycle are listed blow, add the ages to the stages! birth and infanthood childhood (up to 12 years of age) teenager (age 13– 19); young adulthood (age 18– 25) mature adulthood (age 26– 40) middle age (age 41– 54) late middle age (age 55– 65) old age / retirement (age 65 onwards) 4. At what age can you get a full time job and borrow money? 16, 18, 21 5. What percentage of babies are born to mothers above 25 yrs? 25% 50% 75% 6. What are do people on average get married? Groom 27 bride 24 or groom 36 bride 33 7. In 2012 what was the average of a first time house buyer? 25, 30, 35 8. Whose wages rise fastest professional or non professional over a lifetime? 9. Which is higher rate per hour the minimum wage or living wage? 10. What percentage of the workforce are self employed? 14 or 41 11. Which of the following best describes self employed people’s incomes? Regular amounts or irregular amounts
12. Which of the following are you likely to save for and which borrow for? Holiday House 13. Some events might happen others are likely to happen. Select the three that are likely to happen a) Buy a house b) Move overseas c) Get married or civil partnership d) Have children e) Lose your job f) Get divorced 14. People can plan and save for events such as retirement or buying a house, but for other events such as a loss of a partner what type of insurance could you take out to reduce risk? Life insurance, contents insurance, building insurance 15. What type of insurance would you take out to protect your house? Life insurance, contents insurance, building insurance 16. What type of insurance would you take out to protect the goods in your house? Life insurance, contents insurance, building insurance 17. When people can see the downside and they understand the risk, it becomes known as a? measured risk or financial risk 18. Which is a higher risk? Investing in shares or saving money in a bank 19. Which potentially offers the higher returns? ? Investing in shares or saving money in a bank 20. Which two of the following are likely to be ‘risk adverse’? Young adult, family man, woman nearing retirement
