Suppose that you are a 60-year-old business owner.What stage of the financial life cycle are you currently in?
A)Stage 1: wealth accumulation
B)Stage 2: the golden years
C)Stage 3: the retirement years
D)Stage 4: the formative years

Question

Quizplus · Accepted Answer

As a 60-year-old business owner, you are most likely in Stage 2 of the financial life cycle, known as the golden years. This stage typically involves the gradual transition from accumulating wealth to preserving and enjoying it during retirement. It's a time when many people start to shift their focus towards income-generating investments, such as dividend-paying stocks and bonds, that can provide them with a reliable source of income during their later years. While some business owners may choose to continue working at this stage, others may start to delegate more responsibilities to others and enjoy more leisure time.

Suppose That You Are a 60-Year-Old Business Owner