Having a different financial planning strategy for different stages of one’s life can help lay out in very simple words – investing for various tenures of one’s life cycle.
There are six stages of Financial Life Cycle:

  1. Young Unmarried
  2. Young Married
  3. Married with young children
  4. Married with older children
  5. Pre-retirement
  6. Retirement
Financial Life Cycle and Risk profile in every stage