Personal Financial Planning

Authors : Randy Billingsley; Lawrence Gitman; Michael Joehnk

9780357438480

688 Pages Hardcover

15th Edition | Previous Editions: 2017, 2014, 2011

$234.75

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Provide students with a solid framework, meaningful context and critical skills for solving key personal financial planning problems with Billingsley/Gitman/Joehnk's leading PERSONAL FINANCIAL PLANNING, 15E. Numerous examples and practical illustrations complement a common sense, intuitive approach ... more

Features

HIGHLIGHTED PRACTICAL EXAMPLES ILLUSTRATE EVERYDAY APPLICATIONS. A series of engaging, practical examples in each chapter demonstrate relevant financial principles in action. Examples include the impact of starting an IRA early, calculating the maximum affordable mortgage, credit card choice trade-offs, homeowner’s insurance policy coverage limits, evaluating mutual funds and exchange-traded funds and the use of life insurance in estate planning.

THE "FINANCIAL IMPACT OF PERSONAL CHOICES" EXAMINES AN IMPORTANT DECISION RELATED TO EACH CHAPTER'S CONTENT. This edition's "Financial Impact of Personal Choices" learning feature presents a personal financial planning decision related to an important topic in each chapter. Students review and evaluate the outcome.

THOROUGH UPDATES OFFER A MORE PERSONAL TOUCH TO THIS EDITION'S SUBJECT MATTER. This edition's friendly tone helps relate big financial ideas to students’ everyday lives, based on the latest research and input from practicing professionals and leading instructors. The book continues to emphasize the validity and importance of key principles of personal financial planning, including saving, diversifying investments, watching expenditures and borrowing carefully.

FRESH, INVITING DESIGN SUPPORTS THE READER'S UNDERSTANDING. Based on feedback from current instructors, financial planners and students, this edition incorporates numerous updates and a fresh design to ensure that the book presents financial information in a clear, concise and understandable manner. Updated, practical sidebar discussions provide useful tips and guidelines, and numerous learning features reinforce this edition's inviting design.

UPDATED "FINANCIAL ROAD SIGNS" AND PLANNING TIPS OFFER VALUABLE HINTS AND SUGGESTIONS FOR FINANCIAL DECISIONS. These brief, helpful "Financial Road Signs" and "Financial Planning Tips" suggest what students should consider when implementing parts of a financial plan or making personal financial decisions in today’s times. This invaluable financial advice walks students through developing budgets, handling student debt, conducting online banking, purchasing vehicles, using debit cards, buying health or life insurance, investing and avoiding online job search mistakes.

STUDENTS RELATE TO PRACTICAL CHAPTER CONTENT IMMEDIATELY. A "How Will This Affect Me?" feature at the beginning of each chapter explains in plain language why readers will find the chapter’s topics relevant to their lives. Each chapter also opens with a series of "Financial Fact or Fantasy" statements that engage and prompt students to critically evaluate financial information and assumptions.

UPDATED END-OF-CHAPTER FEATURES ENSURE COMPREHENSION AND APPLICATION. Useful summaries at the end of each chapter review learning goals and connect to concepts within financial planning exercises and critical-thinking cases. Students test and apply their understanding with out-of-class projects, exercises and worksheets designed to help manage personal finances. They also make personal financial planning decisions related to chapter topics and evaluate the outcomes.

New to this Edition

TODAY'S MOST CURRENT UPDATES DEPICT THE LATEST TAX LAWS AND FINANCIAL DATA. The latest content throughout this leading edition reflects all of the newest tax laws with special sections on tax preparation as well as recent personal examples and contemporary financial advice. The latest financial data... more

Authors

Randy Billingsley

Randall S. Billingsley serves as a finance professor at Virginia Tech. He earned his bachelor’s in economics from Texas Tech University and received his M.S. in economics and a Ph.D. in finance from Texas A&M University. Dr. Billingsley holds the Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) and Certified Rate of Return Analyst (CRRA) professional designations. An award-winning instructor at the undergraduate and graduate levels, his research, consulting and teaching focus on investment analysis and issues relevant to practicing financial advisors. Formerly a vice president at the Association for Investment Management and Research (now the CFA Institute), Dr. Billingsley published an equity valuation case study of Merck & Company that was assigned reading in the CFA curriculum for several years. In 2006, the Wharton School published his book, UNDERSTANDING ARBITRAGE: AN INTUITIVE APPROACH TO FINANCIAL ANALYSIS. In addition, his research has been published in refereed journals such as the Journal of Portfolio Management, the Journal of Banking and Finance, Financial Management, the Journal of Financial Research and the Journal of Futures Markets. Dr. Billingsley advises the Student-Managed Endowment for Educational Development (SEED) at Virginia Tech, which manages an equity portfolio of about $5 million on behalf of the Virginia Tech Foundation. To date, Dr. Billingsley’s consulting has focused on providing expert testimony on financial issues as well as helping investment professionals prepare for the CFA exams. Dr. Billingsley enjoys exploring and discussing the relationships among diverse areas of investment analysis as his consulting takes him throughout the United States, Canada, Europe and Asia.

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Lawrence Gitman

Lawrence J. Gitman is an emeritus professor of finance at San Diego State University. He received his bachelor’s degree from Purdue University, his M.B.A. from the University of Dayton and his Ph.D. from the University of Cincinnati. Dr. Gitman is a prolific textbook author with numerous best-selling books, and he has written more than 50 articles for various finance journals. An active member of numerous professional organizations, Dr. Gitman is past president of the Academy of Financial Services, the San Diego Chapter of the Financial Executives Institute, the Midwest Finance Association and the FMA National Honor Society. In addition, Dr. Gitman is a Certified Financial Planner® (CFP®). He formerly served as a director on the CFP® Board of Governors in addition to functioning as vice-president of financial education for the Financial Management Association and as director of the San Diego MIT Enterprise Forum. Dr. Gitman has two grown children and lives with his wife in La Jolla, California, where he is an avid bicyclist.

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Michael Joehnk

Michael D. Joehnk is an emeritus professor of finance at Arizona State University. In addition to his academic appointments at ASU, Dr. Joehnk spent a year as a visiting professor of finance at the University of Otago in New Zealand. He received his B.A. and Ph.D. degrees from the University of Arizona and his M.B.A. from Arizona State University. A Chartered Financial Analyst (CFA), he served as a member of the Candidate Curriculum Committee and of the Council of Examiners of the Institute of Chartered Financial Analysts. He also served as a director of the Phoenix Society of Financial Analysts and as secretary-treasurer of the Western Finance Association. He was also elected for two terms as vice president of the Financial Management Association. In addition, Dr. Joehnk was the editor of Institutional Asset Allocation, which was sponsored by the Institute of Chartered Financial Analysts and published by Dow Jones-Irwin. He has contributed to the Handbook for Fixed Income Securities and Investing and Risk Management, Volume 1 of the Library of Investment Banking. In addition, Dr. Joehnk served a six-year term as executive co-editor of the Journal of Financial Research. He and his wife live in Flagstaff, Arizona, where they enjoy hiking and other activities in the surrounding areas.

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Table of Contents

Part I: FOUNDATIONS OF FINANCIAL PLANNING.
1. Understanding the Financial Planning Process.
2. Developing Your Financial Statements and Plans.
3. Preparing Your Taxes.
Part II: MANAGING BASIC ASSETS.
4. Managing Your Cash and Savings.
5. Making Automobile and Housing Decisions.
Part III: MANAGING CREDIT.
6. Using Credit.
7. Using Consumer Loans.
Part IV: MANAGING INSURANCE NEEDS.
8. Insuring Your Life.
9. Insuring Your Health.
10. Protecting Your Property.
Part V: MANAGING INVESTMENTS.
11. Investment Planning.
12. Investing in Stocks and Bonds.
13. Investing in Mutual Funds and Real Estate.
Part VI: RETIREMENT AND ESTATE PLANNING.
14. Planning for Retirement.
15. Preserving Your Estate.

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Teacher Supplements

Instructor's Companion Website

9780357438589

Everything you need for your course in one place! This collection of product-specific lecture and class tools is available online via the instructor resource center at www.cengage.com/login. You'll be able to access and download materials such as PowerPoint® presentations, images, instructor’s ... more

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Student Supplements

K12 MindTap for Personal Financial Planning, 15e (1-year access)

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