The Nuts & Bolts
Now we get down to the nitty-gritty basics: understanding money and value over time, managing credit and its attendant temptations, various forms of property ownership, and the building blocks of your master plan.
- The time value of money: The nuts and bolts of financial planning are the concepts underlying the time value of money including compounding, discounting, future and present value, annuitization and opportunity cost.
- Managing credit and debt: Personal credit, if used wisely, has its advantages. We offer you some information on the subject, speaking to both the advantages that can be gained and the pitfalls that should be avoided.
- Legal forms of asset ownership: A discussion of the four basic forms of legal ownership.
- The planning elements: The opportunities for achieving your financial plan are the planning elements themselves: investing, insurance and risk management, retirement, education and estate planning, as well as tax planning strategies, just to name a few.
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