Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Financial economics wikipedia , lookup
Systemic risk wikipedia , lookup
History of insurance wikipedia , lookup
Conditional budgeting wikipedia , lookup
Financial literacy wikipedia , lookup
Financial Crisis Inquiry Commission wikipedia , lookup
Systemically important financial institution wikipedia , lookup
Chabot College Fall 2008 Course Outline for Business 43 PERSONAL FINANCIAL PLANNING Catalog Description: 43 – Personal Financial Planning 3 units Focuses on the time value of money, budgeting, use of credit, investing, taxation of personal income and assets, types of insurance and risk management, health care planning, retirement planning, and estate planning. 3 hours. [Typical contact hours: 52.5] Prerequisite Skills: None Expected Outcomes for Students: Upon completion of this course, the student should be able to: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. relate interest rates to credit cost; describe the proper use of credit; create an individual and family budget; establish an individual investment plan; define the major types of insurance; contrast various classes of investments; discuss advantages/disadvantages of renting versus owning a home; describe how income and other forms of taxation affect financial plans; demonstrate knowledge of main financial planning terms; describe various careers within the field of financial planning. Course Content: 1. 2. 3. 4. 5. 6. Importance of Personal Finance a. Time-value of money b. Career-related money decisions c. Key steps in financial planning Financial Planning a. Balance Sheet and Cash-flow statements b. Using financial ratios to evaluate financial strengths c. Keeping financial records d. Selecting a Financial Planner Budgeting and Cash-flow a. Organizing a budget b. Decision-making phase of budgeting c. Implementation and control phases of budgeting Managing Income Taxes a. Income tax rates b. Ways to pay income taxes c. Calculating income taxes Credit Use and Credit Cards a. Obtaining credit b. Credit Scores c. Types of consumer credit d. Managing credit wisely e. Dealing with over-indebtedness Managing Major Purchases a. Prioritizing needs b. Housing c. Automobile Purchases d. Comparison shopping Chabot College Course Outline for Business 43, Page 2 Fall 2008 e. Negotiations Risk Management and Insurance a. Understanding how insurance works b. Home owners’ insurance c. Automobile insurance d. Liability insurance e. Health insurance f. Life insurance 8. Health Care Planning a. Sources of health care benefits b. Types of medical costs c. Long-term care health care 9. Investment Fundamentals a. Creating an investment plan b. Steps to take for effective long-term investing c. Factors that affect the rate of return on investments d. Personal financial decisions 10. Retirement and Estate Planning a. Calculating your financial need in retirement b. Employer and personal established retirement plans c. Government Plans including Social Security d. Transferring your estate to your heirs e. Advance directive documents f. Impact of estate and inheritance taxation 11. Careers in the Financial Planning Field a. Available Certifications b. Educational requirements for professional financial planners 7. Methods of Presentation: 1. 2. 3. 4. 5. Lectures and discussions Seminars Videos Guest Speakers Team activities (presentations, posting to Blackboard, projects) Assignments and Methods of Evaluating Student Progress: 1. 2. Typical Assignments a. Prepare a presentation on a personal financial plan b. Write a paper on the use and relevance of asset allocation c. Analyze a case from the textbook Methods of Evaluating Student Progress a. Graded team and individual presentations b. Examinations c. Quizzes d. Graded case analyses e. Graded internet assignments f. Final examination Textbook(s) Typical: Personal Finance, Garman, Forgue, Houghton Mifflin, 2007 Special Student Materials: None nr 09/10/2007, revised 10/26/07 Bus 43 course outline.doc