Fundamentals of Personal Financial Planning
Avi Pai
Explore the basic personal financial planning concepts. Learn how to define and reach your financial goals. Apply the framework of personal financial planning to monitor your own finances, with special emphasis on lifecycle-specific topics, such as saving for education, student loans, or wealth management and estate planning.
About the Course
This course was created to help those who cannot afford extensive planning assistance better understand how to define and reach their financial goals. It provides basic understanding so informed decisions can be made. The course can also be seen as a reference for individual topics that are part of personal financial planning.
Financial planning, in the broadest sense, is an effort to manage all aspects of a person / family’s financial affairs. Classically, that begins with planning family spending and extends through risk management (insurance), taxes, wealth accumulation, investing, and wealth distribution (retirement and estate planning).
About the Instructor(s)
Avi Pai, CFP®, CRPC®, AIF® is Managing Partner and a Certified Financial Planner Practitioner with the Irvine office of Provence Wealth Management Group (LPL Financial). He provides comprehensive financial planning and investment advice services. His expertise is in wealth accumulation for successful younger individuals, "sudden wealth" situations, as well as retirement planning for pre-retirees. Avi and his Irvine team manage over $130m of personal client wealth as well as corporate retirement plans such as 401ks and Defined Benefit Pension plans. In 2011, Avi was named one of the “Top 40 Business Professionals Under 40” by Orange County Metro Magazine.
Course Syllabus
Week One: Where Are You? Where Are You Going?
Week Two: Taxes
Week Three: Defense -- Insurance
Week Four: Investing
Week Five: Funding Retirement
Week Six: Doing the Math and Making Reasonable Assumptions;
Week Seven: Estate Planning
Week Two: Taxes
Week Three: Defense -- Insurance
Week Four: Investing
Week Five: Funding Retirement
Week Six: Doing the Math and Making Reasonable Assumptions;
Week Seven: Estate Planning
Recommended Background
This course is designed for anyone who wants to learn the fundamentals of personal financial planning.
Suggested Readings
Each video lecture will be accompanied by a suggested reading list.
Course Format
This course consists of online lessons within seven topical modules. The lessons contains brief explanatory videos followed by text, worksheets, and exercises. Please read below about some recommendations for completing the full course.
You can choose one of three ways to go through this course:
1. You can start with Week 1's videos and proceed through all of the material sequentially until you reach the end. This will provide you with a thorough and basic background in financial planning.
2. You can read through Weeks 1 and 2 and work through the exercises or not, and then proceed to a topic of your choice. Doing this will give you a good grounding in setting savings goals and understanding your current financial situation as well as covering your interests.
3. You can pick and choose between videos and only cover those in which you have a specific interest. This will give you a basic understanding of what you need to do to plan for your particular goal(s).
You can choose one of three ways to go through this course:
1. You can start with Week 1's videos and proceed through all of the material sequentially until you reach the end. This will provide you with a thorough and basic background in financial planning.
2. You can read through Weeks 1 and 2 and work through the exercises or not, and then proceed to a topic of your choice. Doing this will give you a good grounding in setting savings goals and understanding your current financial situation as well as covering your interests.
3. You can pick and choose between videos and only cover those in which you have a specific interest. This will give you a basic understanding of what you need to do to plan for your particular goal(s).
FAQ
Will I get a certificate after completing this class?
Yes. Students who successfully complete this class will receive a certificate from Coursera.
What resources will I need for this class?
No additional resources are required beyond the provided videos, textual narrative, interactions and worksheets.
Does this class prepare me for becoming a Certified Financial Planner?
It gives you a consumer-level understanding of financial planning. There are course and exam requirements to become a Certified Financial Planner. You can find more information here.
Can I pay off my student loans with the knowledge I gain in this course?
Some cash will also be useful. But the knowledge gained will at least help you develop short- and long-term plans and help you prioritize.
Is there an open license to the materials included in this course?
Yes, it is available from the UC Irvine OpenCourseWare site.
Is it available in other languages?
The course content is available in Spanish here.
Yes. Students who successfully complete this class will receive a certificate from Coursera.
What resources will I need for this class?
No additional resources are required beyond the provided videos, textual narrative, interactions and worksheets.
Does this class prepare me for becoming a Certified Financial Planner?
It gives you a consumer-level understanding of financial planning. There are course and exam requirements to become a Certified Financial Planner. You can find more information here.
Can I pay off my student loans with the knowledge I gain in this course?
Some cash will also be useful. But the knowledge gained will at least help you develop short- and long-term plans and help you prioritize.
Is there an open license to the materials included in this course?
Yes, it is available from the UC Irvine OpenCourseWare site.
Is it available in other languages?
The course content is available in Spanish here.
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