FIN 502 Chapter Notes - Chapter 1: Personal Finance, National Post, Financial Plan
Document Summary
Financial planning process - d/ how much $ need in future to meet goals goals: monetary w/ date to plan. Money by working: consumed and saved (goes to investment) 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, Magazines: canadian moneysaver (www. canadianmoneysaver. ca) financial planning advice: investment dealers, banks, credit unions. Income tax personal finance related = ca, cga, cma. Choosing an advisor: technical competence, honest, commitment to serve personal fin needs, not make claims about tax savings to be seized. Implementing the plan: invest in stock mkt intermediary license to execute trades on behalf, buy house lawyer, have plan b4 getting insurance. Fpsc"s financial planning exam 1 (fpe1) - 4 hr m/c. Complete at least 1 yr practical experience as fin planner (b4/after passing.
