Personal financial planning
Article Abstract:
The proper personal financial plan will vary according to the individual circumstances, objectives and personality of the investor. Young couples with no children, for example, can afford to take more risks and have less liquidity than older people who are close to retirement age. The three broad categories of investments are equities (stocks and mutual funds), fixed-income investments (municipal and corporate bonds), and real estate. The attractiveness of each type of investment will vary according to current interest rates, tax laws, and yields, but it is generally a good policy to diversify investments and to hold the investments for a long time. Personal financial planning techniques and likely profitable investments by income bracket are discussed.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1986
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Managing your money: achieving financial independence
Article Abstract:
In order to achieve financial independence, management accountants must analyze their family finances and follow the same management control techniques used to run a successful business. The first step involves the preparation of a family statement of net worth. Techniques for achieving financial independence involve effective management of finances (such as exercising control over discretionary expenses and doing comparison shopping), establishing a savings program for investments (since it is difficult to become financially independent unless one has a unique marketable skill or a business or other investment to generate income), maximizing one's investment return, minimizing taxes, and developing an effective retirement program.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1986
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Managing your money: lessons from October 19, 1987
Article Abstract:
Financial planning lessons to be learned from the October 1987 stock market are discussed. Investors should maintain a balanced portfolio that includes fixed income securities and real estate as well as stocks. Investors should diversify their stocks, buy stocks in well managed companies, and look for mutual funds that perform well over the long term. Investors who are confused or uncertain about the stock market should seek safer investments such as money market funds. Investors should avoid panic selling. Leverage should be used with care. Take a long-term perspective when investing in the stock market.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1988
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