Personal Finance.

Catalog description

Through lecture and student interaction/discussion, the following topics will be presented: Investment risk management and mitigation which will involve goal setting, self-education, assumption of risk, decision ownership, experience, team building, and buying strategies. Discuss the concept of return on investment, evaluating the appropriate buying strategies, and understand the concepts of diversification and concentration. Taxes, Assessments, and Fees: Federal, State, and local. Understand the implications of taxes on their overall net worth. Net worth: elements of and calculations to determine your net worth and understand where they are, financially, to any given personal or family goal. Business entities: Understand basic business entities and which one is best for their situation. Also understand the advantages, disadvantages and where these come into play in the big financial picture. Estate Planning: Basics on what to consider when the time comes and why this step is crucial for long term financial security. Insurance: Understand the nuts and bolts of what insurance is and under what circumstances it is or is not necessary. Business partners and partnerships: understand why they are important, who should be on your team, and considerations of evaluating who is a good and not so good fit for your needs. Retirement versus non-retirement accounts: Understand what is the difference, implications on taxes paid, and what balance you need to feel comfortable. Business planning, financing, marketing and sales: Basic primer on opening a business. All others per permission of the instructor. Prerequisites: P1 or P2 student status within the School of Pharmacy.