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The Learner

Learner is a position where they are still studying, perhaps depending on they parents to give allowance or their income might come from part-time or temporary employment salary. A long term savings plan may not be appropriate for them, they are probably on a tight budget. They do not have clear investment purpose.

The Earner

At this stage, Medium term investment could be a better solution for them as they may not have a firm objective in mind when talk about long term savings and investments. They might just put aside money into bank deposit account for unexpected expenses or save up in a short or medium term for a vacation or a brand new car.

The Partner 

This maybe a stage of considering about investments for future financial security, as they are in a group of high income people. However, they are also in a high expenses group especially for those have mortgage plan and hire purchase. They may consider to have a larger house or a good life style in future.

The Parent

Education fund and emergency fund is very important at this stage. Parent always set their objective hope that they can provide their children a good education in future. This should plan as early as possible before their children reach age of 18 years old. For some couple may go through a period of reduced income if one partner gives up work or woks part time to look after their children. Therefore, emergency fund is very important to avoid unexpected expenses.

The Provider

Savings for retirement should continue at this stage. They should have more funds to  allocate for their retirement plan since they do not need to pay school fees if their education fund is sufficient at the Parent stage.

The Escaper

This should be a stage where they can involve themselves in a wider investment products and services. They may want to invest in a larger house or to buy a luxury car. Of course this still depend to some extent on earlier planning and strategy whether is adequate and appropriate.

Another area of concern which is often more important at this stage is estate planning. Wills may need to be brought up-to-date, and some gifting of large estates to children or grandchildren may be considered.

A self-employed person will need to consider what arrangements he wants to make for the smooth hand-over or sale of his business. He will also need to consider how he will receive the proceeds of the business if he intends to sell it on his retirement.

As when their age become older and their likelihood of becoming seriously ill increases. A major consideration at this stage of life is health cover.

The Enjoyer

Although Enjoyer should get benefit from the result of earlier financial planning stage e.g.. retirement plan, they may need to continue growing their capital to cope with unexpected situations. The kind of investment should be secure and lower risk.

Ideally, the life stages mention has looked at the typical savings and investment needs that arise during an individual's lifetime, however, due to different person education, countries culture and environment and economy circumstances, some people may not able to set their goal and objective as mention as above. Therefore, it's important for a financial advisor to play their role in advising their customer to recognize and identify  their financial needs.

Investment Strategy

Saving can be defined as putting money aside by accumulation of money for future purpose. It perceived to be a lower risk because the risk capital loss is very minimum. However, the return of interest is also very little.

Investment refer to an individual, who willing to take the risk to put a lump sum deposit and hope that will gain a good return from the particular investment. They may come back with a high return of investment or high loss. Because the risk taken is higher.

Bank Life Insurance   Unit Trusts   Equities   Property   Futures   Options   Commodities

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