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Wilfred Roesler
Captus Press,
ISBN
978-1-55322-407-5
(2020)
Financial planning can seem a daunting topic, especially in uncertain economic times. Yet learning how to manage personal finances has never been more important. While there are options to leave these matters to financial management professionals, it is wise to have a basic understanding of personal finance concepts to be aware of how your personal finances are being managed. Personal Finance: Plan, Invest, Enjoy! 1e addresses those seeking financial literacy whether for personal development or preparing for a personal finance career. This textbook is written by Wilfred Roesler, a Canadian, for Canadians. An academic and practising professional of personal finance for 40+ years, Wilf believes proper personal finance includes both financial planning and strategic investing — only when the two come together will there be enjoyment of life. Personal Finance: Plan, Invest, Enjoy! 1e is broadly divided into 2 parts. Part I focuses on the elements critical to the personal financial planning process and underscores the importance of creating a formal financial plan. The first chapter guides the reader through financial planning steps, with the next six chapters describing and explaining these critical elements: inflation and investment returns, tax expense reduction strategies, consumer credit products, types of insurance and insurance concepts, retirement planning including retirement income and registered plans, and finally estate planning, its importance and the elements involved. The organization of these chapters is consistent with the general stages of life. A good financial plan is like a road map; it can show the best way to get to your final destination. But without sound investing strategies, the destination will be unreachable. In Part II, the author explains key elements of the investing processes and presents the major types of investments along with overriding concepts of risk and reward. The first chapter introduces readers to the investment fundamentals, covering the investment industry, investment strategies, financial markets, investment risks, assessing and managing risks, personal considerations, and ways to keep investments aligned with goals. In the remaining three chapters, the author details the pros and cons of popular investment vehicles — stocks, bonds, and mutual funds. Investor motivations are explained and tied to the various types of investment. Equipped with this basic but important investing knowledge, readers can have informed discussions with their investment advisors and thereby ensure they will reach their financial destination. For most Canadians, taxes play a big role in their finances and their financial planning, and understanding tax implications of their decisions is crucial to their financial well-being. With that in mind, the author makes tax implications a recurring theme throughout this book. With strong coverage of personal finance concepts that closely align with FP Canada’s “Body of Knowledge”, Personal Finance: Plan, Invest, Enjoy! 1e would also be a valuable resource for candidates preparing to achieve the Qualified Associate Financial Planner (QAFP) and the Certified Financial Planner (CFP) designations.
Preface and Acknowledgements PART I — The Personal Financial Planning Process PART II — Investing: The Process and The Essentials Additional Downloadable Study Resources
Comprehensive teaching aids for instructors are available including:
Wilfred (Wilf) Roesler is a faculty member in finance at the Dhillon School of Business, University of Lethbridge. He enthusiastically teaches a variety of senior finance courses, with a passionate focus on personal finance and investing. Wilf holds a Bachelor of Management degree from the University of Lethbridge, an MBA from the University of Quebec in Montreal, and the CPA, CMA, and CFP® designations.
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