Textbook Notes (369,067)
Canada (162,366)
Finance (362)
FIN 502 (69)
Joan Lobo (33)
Chapter 1

Chapter 1.docx

2 Pages

Course Code
FIN 502
Joan Lobo

This preview shows 80% of the first page. Sign up to view the full 2 pages of the document.
Chapter 1: Introduction A Simple Model of Financial Planning Financial planning process - d/ how much $ need in future to meet goals - goals: monetary w/ date to plan - money now: earn f/ invest - money by working: consumed and saved (goes to investment) - Going Beyond this Book Keeping up-to-date - interest rate, trends in consumer spending, expectation about future income affect PFP - 2% inflation - consumer spending declining (inclu consumer durables: car, furniture) - income falling, unemployment widespread - Newspaper: The Globe and Mail - Report on business, National Post - the Financial Post, Investment Executive - Magazines: Canadian Moneysaver (www.canadianmoneysaver.ca) - financial planning advice: investment dealers, banks, credit unions - Income tax personal finance related = CA, CGA, CMA Getting Expert Help - Choosing an Advisor o technical competence o honest, commitment to serve personal fin needs o not make claims about tax savings to be seized - Implementing the Plan o invest in stock mkt → intermediary license to execute trades on behalf o buy house → lawyer o have plan b4 getting insurance - Financial Planners o Salaried employees of institutions - bank/trust comp → free; general info to sell service of institution; advice limited in val o Commission planners - paid
More Less
Unlock Document

Only 80% of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.