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Canada (158,187)
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FIN 502 (69)
Chapter 6

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Ryerson University
FIN 502
Steve Joyce

thChapter 6 The Life Cycle and Financial IntermediationJanuary 24 2012The Financial Life Cycle is the lifetime pattern of these stages people have limited life expectancy and during their lives they go through stages of differing financial positions and earning powerEarly in your lifecycle your consumption is likely to exceed your income at least some of the time more likely to debtAs you proceed through the life cycle you start to earn more than you consumeAs children become independent and you pay your debts off you find yourself with surplus income or savingsRetirement is when your earning power becomes very low or zero The Family Life CycleGroup families into different categories in the family life cycle by looking at age and other factorsUseful for identifying and analyzing demand for consumer financial services captures the effect of income patterns in the financial life cycle even thought they are more directly related to ageA Modern Family Life Cycle Segmentation Category Description 1 Younger single 2 Yo
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