Fortuna Liberum and Fortuna Barbata are aspects of Fortuna Who oversee the luck of young people. Fortuna Liberum protected children and brought them luck; Her name means, not surprisingly, "Fortuna of the Children", though an alternate meaning of liberum is "unimpeded" or "free", which perhaps refers to the freedom of children who are not yet expected to contribute to society.

Fortuna Barbata, "Fortune of the Beards", was the Goddess to Whom boys offered the first cuttings of their new beards as they became men, and She represents a Deity who watches over and blesses the transition from childhood to adulthood. Barbata in the Latin also has the meaning of "adulthood" or "sign of being an adult", and a beard was symbolically a mark of adulthood (for men). "Bearded" Fortuna, in other words, the Goddess Fortuna who has a beard, has been used of Fortuna Mala, usually translated as "Bad Fortune"; perhaps there has been some confusion or bad translation somewhere, because mala does not seem to ever translate as "beard".

For the aspect of Fortuna Who watches over a girl's transition to womanhood (which in those days meant marriage), see Fortuna Virgo.