Use the Internet or your library to find answers to the questions below. Note www.citizensinformation.ie is a great source of information. 1. What is the typical retirement age in Ireland? 2. How much is the weekly State pension? 3. At what age is the State pension paid? 4. The age at which the State pension starts is changing. Find out what these changes are.
Key Terms Checklist
Using a pencil, place a in each box to indicate how well you know and understand each Key Term. q I know and understand this Key Term.
Chapter Review ¸
q I am still a bit uncertain about what this Key Term means. q I don’t understand this Key Term yet.
When you revise each chapter, tick the boxes again to indicate how much you have learned.
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A financial life cycle is a series of stages which most people pass through during their lives. Each stage is different in terms of financial goals, income, spending and risk.
1. 2. 3.
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Key Concepts What is a financial life cycle? List the main stages of a typical financial life cycle.
List two potential sources of income people can have when they start their career.
List five sources of finance a person could have at different stages of their life.
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Critical Thinking Skills Draw a graph of a typical financial life cycle. Indicate where you are on the graph now. Predict your main financial goals and main sources of income for the next four stages of your financial life cycle.
2. Explain five benefits of managing your personal finances.
