Personal Wealth Project Scope Personal wealth is defined as the total asset value of an individual’s earnings, possessions and investments. Personal wealth can be broadly classified into three categories namely liquid assets, loans or mortgages and personal possessions…
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> Creating personal wealth is not necessarily a complex process if one establishes the primary objectives like future personal commitments and desired retirement benefits. Thereafter, it is important to identify suitable financial vehicles that align current and future market factors with the expected outcomes besides evaluating the risk accompanying each investment opportunity. I feel that the easiest way to generate personal wealth that can take care of my retirement needs would be to invest a percentage (say 5%-10%) of my monthly salary in an reputed and long-running pension fund that has a good track record of performance. Otherwise, it is also useful to invest a part of monthly income in long-term certificates of deposit (CDs) that offer a stable return during the investment period. Direct investment in low-risk bonds or equity markets is also possible although this would demand extensive knowledge of the relevant markets. The option of investing in real estate must also be considered. Investing in this sector is relatively simple, straightforward and perhaps most practical n terms of building some personal wealth. While real estate markets do have their own inherent risks (like the recent housing market crash due to the financial crisis in the United States), (include author) argues that the market has the best capability to appreciate over the years and yield good returns over the years. As mentioned earlier, investing personal savings in the financial markets is more risky and requires active involvement of the investor through trading, purchasing options to hedge the risk etc., which require knowledge and experience to generate results besides resulting in further expenditures (broker commissions, minimum margins etc.). The best way to invest in these markets is to obtain the services of a brokerage firm that has a good history of providing positive, stable and cost-effective returns to its customers. Project Resources 1. Bold (2009). The Bold Truth About Investing: Ten Commandments for Building Personal Wealth. New York: Ten Speed Press. Mutual Funds expert, Adam Bold, discusses a ten step approach to personal finance that help both experienced and novice investors understand the financial markets and take effective stock of their investments. This book is focused primarily on investing in mutual funds. 2. Hallman (2009). Private Wealth Management: The Complete Reference for the Personal Financial Planner. Chicago: McGraw Hill. This book discusses various strategies and techniques associated with personal finance that deal with some of the latest challenges facing investors. Chapters on cash flow analysis, interest accumulation, common & alternative investments and asset protection plan shed simple but important insights into some of the areas the beginner investors must understand in order to realize profitable returns. 3. Horan (2008). Private Wealth: Wealth Management in Practice. Chicago: John Wiley. Developed by the CFA institute, this book provides latest information on asset allocation, taxation, lifecycle modeling and investment management for small investors. This book considers various human parameters that allow investors to devise customized investment plans and strategies. 4. Reuvid (2006). Handbook of personal wealth management. New York: Kogan Page. This book targets high net-worth individuals who seek to maximize returns from their wealth and advises them about personal and commercial investment products. Besides discussing many such
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(Personl Wealth Essay Example | Topics and Well Written Essays - 2750 Words)
“Personl Wealth Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/environmental-studies/1405785-personl-wealth.
Throughout high school I mintined sound cdemic profile nd volunteered for community service work. Specificlly, I mnged to tke mnging courses such s (plese, nme few course tht Morgn hs tken here), prticipte in the theter production nd to work on prt-time bsis.
lone with the concept of helth there stnds the notion of heling which is the complementing of contemporry helth cre nd subjective issue for professionls. In the following pper I will present my personl ttitude towrds the concepts of helth nd heling nd suggest its implictions to my nursery prctice.
Individuals who have been given wealth have been given great responsibility to utilize it for the common good, not for the pleasure of personal voracity and definitely not for obvious utilization.
Wealth as a reward implies restricted individual stewardship more than unrestricted personal ownership.
nd benevolence, however widespred, does not supply sufficient inducement for individuls to use their own lbor nd property in generting output, especilly when there is no gurntee of reciprocl benevolence. It is insted the desire for personl gin, the promise of profit, tht motivtes orgniztions to initite productive ctivity.
In a study of disposable weekly income by the ONS, the richest 10% of have at least 658 per week (after deductions), compared with the poorest 10%. Twenty-three percent of the nation's total riches is owned the by richest 1% group.
The situation is further worsened by the consumption and social patterns of the rich, which leads to the increase in the prices of higher education, dining and housing. This further leads to the displacement of the middle and low income
Investment involves allocation of funds among investment projects in expectation of future cash inflows from the investment projects (PANDEY, 1979). Investment managers are therefore expected to make long term decisions and to make prudent
Studies have however been in disagreement with this view. In 2004, the IMF had an economic forum in which it clearly showed that the relationship between wealth and welfare has been the other way around
Wealth arises not by just owning things that are valuable but having the ability to produce valuable things. This means having the possession of wealth producing resources such as labor, capital, and natural resources.
Wealth is made by saving
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