Peter is planning his finances for the next couple of years. He wants to save money to eventually buy a house because he will be getting married soon. He has created a savings plan revolving around his necessary expenses, and he has set a target of three years to save up a down payment for a house. At which phase of the financial life cycle is Peter in? Peter is in the phase of the financial life cycle.
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Peter is in initial stages of his financial life cycle, that means he is at the first stage of Financial cycle.
As he is planning to save money for purchasing a house, he is in the process of asset accumulation.
This age generally starts at 25 and it is a growing stage which lasts till around 20 years
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