Personal Financial Planning, 4th Edition

Dr. Benedict Koh Seng Keeis a Professor of Finance and Associate Dean of the Lee Kong Chian School of Business at the Singapore Management University (SMU). He is also the Director of the Centre for Silver Security at the Sim Kee Boon Institute for Financial Economics. Prior to joining SMU, he was Vice Dean and Associate Professor of Finance and Accounting at the National University of Singapore (NUS) Business School. He graduated with a Ph.D. in Finance from the Wharton School of the University of Pennsylvania. Prior to joining academia, he was a corporate banker at the Chase Manhattan Bank N.A. Dr. Koh has served as board member of the NUS Academic Staff Pension Fund and associate editor of the Asia Pacific Journal of Finance and Asia Pacific Journal of Management. He is active in management consultancy as well as executive training for banks, companies and government agencies. He has written numerous articles that have been published in academic journals, books, Pulses, the Singapore Stock Exchange Journal, investment magazines and newspapers. He created the personal finance course in NUS in 1995 and has taught this course in NUS and SMU. He has also co-authored two other books: Managing Your Money and Personal Investments with Dr. Fong.

Dr. Fong Wai Mun is Associate Professor of Finance at the School of Business in the National University of Singapore. Dr. Fong received his Ph.D. in Financial Economics from the Manchester Business School in the United Kingdom. Prior to joining NUS, he was an investment banker. Dr. Fong’s teaching interests include investment, financial planning, corporate finance and valuation. His research activities focus on the application of IT in finance, financial markets and empirical finance. Dr. Fong has published widely in many leading academic journals including the Journal of Applied Econometrics, Journal of Business and Economic Statistics, Journal of Risk and Insurance and the International Review of Finance. He has also contributed articles for practitioners in the Singapore Stock Exchange Journal and the Asia Financial Planning Journal. Dr. Fong has conducted executive teaching in NUS and for banks and private companies. He has also been involved in research and consulting work with many private organizations including Citibank, DBS Land, Goldman Sachs and PricewaterhouseCoopers.

If you are like most people, you may desire to achieve many financial goals such as owning assets, saving money for emergency purposes, protecting yourself and your loved ones with insurance, and many more. Nonetheless, achieving these goals with limited resources can be challenging, especially given the complexity of modern financial markets. In this fourth and latest edition, Personal Financial Planning expands on the important skill of financial planning, covering more topics than before. This volume is designed to help you formulate financial goals and develop specific financial plans to achieve your goals. Topics covered in this volume include the benefits of personal financial planning, financial planning tools, managing credit, insurance planning, income tax planning, retirement planning, and personal financial risk management, among others. The authors are professionals with many years of experience in the field, and key terms and concepts are explained in a fuss-free manner with clear and relevant examples.

This book is suitable for a wide range of audiences, including polytechnic students, undergraduates, MBA students, and those pursuing the Chartered Financial Analyst (CFA) and Chartered Financial Planning (CFP) qualifications as well as financial planners and advisers in banks, insurance and stock broking firms.

1 Personal Financial Planning

2 Personal Financial Statements

3 Time Value of Money

4 Liquid Assets Management

5 Credit Management

6 Credit Cards

7 Buying and Owning a Car

8 Risk-Profiling and Asset Allocation

9 Investments

10 Personal Risk Management

11 Financial Advisers

12 Life Insurance

13 Income Tax Planning

14 Planning for Tertiary Education

15 Retirement Planning

16 Central Provident Fund (CPF)

17 Estate Planning

18 Case Studies on Financial Planning