unit 1 topic 2
- Created by: ruyb
- Created on: 05-03-18 10:50
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- Unit 1 topic 2
- Life cycle
- Birth and infanthood 0–2 years old
- Childhood (preschool) 2–5 years old
- Childhood (school) 5–12 years old
- Teenager 13–19 years old
- Young adult 18–25 years old
- Mature adult 26–40 years old
- Middle age 41–54 years old
- Late middle age 55–65 years old
- Old age 65 onwards
- Death Possible at any age but more likely here
- Needs, wants and aspirations
- needs-essential items
- wants- things someone would like to have now
- aspirations- things you save for to buy in the future
- Life events
- location
- income
- health
- staus
- unforeseen circumstances
- attitudes to risk
- physical risks
- emotional risk
- financial risks
- risks to reputation
- how lifecycle affects risk
- E.g. older people are less likely to take physical risk
- E.g those with responsibility are likely to take less risk
- External influences on the life cycle
- retirement
- retirement age
- life expectancy increasing
- migration and employment opportunities
- moving to other countries to find work
- Lifelong learning and changes in employment patterns
- university education
- apprenticeships
- career mobilty
- changes to the family unit
- single parent families
- family abroad
- household changes
- divorce
- retirement
- Life cycle
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