What are the seven stages of life according to the EECPPEL model?

The seven stages of life according to the EECPPEL model encompass a comprehensive overview of an individual's financial life cycle. The correct choice includes the stages: Education, Early Career, Career Development, Peak Accumulation, Pre-retirement, Early Retirement, and Late Retirement.

Each stage represents a distinct phase in a person's life, during which different financial strategies and considerations come into play.

• Education is where individuals focus on obtaining the necessary knowledge and skills, often involving significant financial investment and debt.
• Early Career marks the transition into the workforce, where income typically starts low but provides an opportunity for growth.
• Career Development emphasizes skill enhancement and professional advancement, potentially leading to increased earnings.
• Peak Accumulation is often when individuals earn their highest income and focus on maximizing retirement savings and investments.
• Pre-retirement represents the transition phase where individuals start preparing financially for retirement.
• Early Retirement refers to the phase where individuals withdraw from the workforce but still have a significant investment horizon.
• Late Retirement occurs when individuals are often more reliant on retirement savings and benefits, managing their assets for sustainability during their senior years.

This model is pivotal for financial planners and individuals alike, as it helps