FIN4004 - Personal Financial Planning
|Year of Study:||4|
|Prerequisites:||FIN2001 Financial Management or with the Instructor’s permission and upon endorsement of the relevant Head and Programme Director|
This module provides students with the essential concepts and principles of personal financial planning and to develop the necessary analytical concepts to design and manage a personal financial plan. Topics include concepts of financial planning, investment, insurance, retirement planning, estate planning and basic taxation.
Upon completion of this module, students should be able to:
- define personal financial planning, wealth management and total life planning;
- describe the steps and process in financial planning, capture the importance of professional ethics and conduct in financial planning;
- identify the importance of time value of money and its application on investment planning, perform asset valuation and basic financial ratio calculation;
- obtain the basic concepts of risk and insurance;
- capture the principles of retirement planning;
- capture the concept of an estate and distinguish between a probate estate and non-probate estate; and
- demonstrate the basics of tax planning and its role in financial planning.