The four quarters of life…
Because of what we do, when we think of life we think in terms of quarters as in the game of football.
What is true for us, life is made up of four quarters and any age past the age of 80 is considered overtime.
Where
did
the
time
go?
As we get older, time goes by faster! When we are in the second quarter of life, the fourth quarter appears to be off in the distance future and time is of little concern.
However as we enter our early to mid-third quarter of life, our perspective of time begins to change.
When our thirtieth high school reunion rolls around, it seems like it was yesterday, and we find ourselves asking the question “where did the time go?”
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Four
Quarters
and
Life Transitions
The other more recognizable events that all of us may eventually experience is what we refer to as Life Transitions.
Life Transitions are future events that are easily foreseeable as part of the aging process or personal change. Life always begins with the first quarter.
First Quarter: (Ages 0 -19) No choice but to grow up and enter adulthood.
2nd Quarter
Life Transitions
(Ages 20-39)
Start our careers
Buy our first home
Marriage
Advance degrees
Birth of children
Child care
Elementary school
Purchase larger home
3rd Quarter
Life Transitions
(Ages 40-59)
Career change
Professional advancements
Jr. High – High School activities
Children’s automobiles
High School graduations
Children’s college
Empty nest
Weddings
Grandchildren
4th Quarter
Life Transitions
(Ages 60-79)
Retirement, Repurpose, or Re-Invent
Sustainable quality of life
Grandchildren
Grandchildren’s college
Care for aging parents
Chronic healthcare issues
Custodial care
Final expenses
Estate transfer
Life Shocks
One reoccurring issue we have uncovered over the years in working with our clients are the challenges they face in managing their financial lives when faced with circumstances beyond their control.
Circumstances that we refer to as Life Shocks.
Life Shocks are defined as events that happen unexpectedly and beyond our control that can create emotional stress which affect our decision-making ability.
– Death
– Disability
– Divorce
– Loss of Income
– Property & Casualty losses
– Health issues
– Economic downturns or recessions
– Personal & Business insolvency