Final answer:
One's personal expectations about their life's progression are referred to as rational expectations, a theory suggesting people use all available information to form accurate expectations about the future.
Step-by-step explanation:
One's personal expectations about how their life will unfold is known as rational expectations. The theory of rational expectations indicates that people form the most accurate possible expectations about the future using all information available to them. This concept is rooted in the belief that individuals have the capacity to predict and subsequently shape their own life outcomes based on available information and their understanding of the world. These expectations, along with the individual's consistent patterns of thinking, feeling, and behaving, are part of the broader topic of personal and social identity.