To paint a picture of how financial capability develops, the CFED has looked at three types of lifecycle events: Universal experiences: things that happen to everyone, like early childhood and middle school; Expected or recurring experiences: things that happen for most of us, but at different points in life, like having kids, getting a post-secondary education, paying taxes and finding a place to live; The unexpected: things that may or may not happen, but if they do there is a financial impact, like losing a job, getting very sick or having to care for aging parents