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20 June, 13:43

List and characterize the stages of the financial life cycle. What three financial concerns are addressed across all three stages?

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  1. 20 June, 16:55
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    Accumulation, Preservation, Income and distribution

    Explanation:

    The accumulation phase is the first phase of the financial cycle.

    It advises savings and investment towards future years especially retirement.

    The preservation phase is the stage where retirement is already being envisioned. Investments risks are minimized with the aim of maximizing returns on investment.

    The income and distribution phase is the retirement period where there is total dependence on retirement income. It entails the ability to manage this income very well to cover all expenses for a long period of time
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