unit 1 topic 2

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  • 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

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