Sunday, May 31, 2020

Financial Planning By Considering Personal Financial Needs - Free Essay Example

We know that the conditions of an economy do not remain static. The factors which influence it keep on changing. The rate of flow of funds also, changes with time in an economy, so people have funds available in different strengths at different moment of time. It affects the lives of people living in that economy because to satisfy their needs they require funds. People always feel a gap, positive or negative, between their needs and required funds. So they do their financial planning. In this project we have tried to find and analyse how and in which ways people are doing financial planning in the prevailing market situations. We have also tried to find the awareness of people about current market situations, awareness of financial planning among them and their interest area of investment. Financial Planning is not a very new concept in India. It had been in practice in earlier social systems also. In the past also, people used to do this in some ways. They used to purchasing pieces of land, jewellery and keep these with them for their bad days. Some of them kept their saved money with so called à ¢Ã¢â€š ¬Ã‹Å"Mahajanas who used to acting as banker. Though people in the past were involved in some kind of activities related to the ir financial planning, yet they were not very conscious and aware of the thing and were not doing this very actively. It was so because the joint family system was there in the society and also the economic conditions, in the country, were almost static and not as turbulent and volatile as in current scenario. So people did not feel so much insecure. But after industrial revolution, things started to change. People started to move towards cities in searching of new earning opportunities. This leaded to a dynamic economic condition in the country and a change in family structure in the society. This thing has been continuing for years in the country and today we can observe increasing number of nuclear families and varying economic conditions here. The needs of a person and his consumption habits have also changed significantly. Further, the priorities and these needs of a person also change with change in his life stage. So financial planning has become more relevant and impor tant in current market scenario. But, How many persons are there who understand the meaning of financial planning? How many of them are actively doing it? In which ways are they doing their financial planning? These are some questions we need to find answers so that we can conclude to a result and can act accordingly. We have tried to find the answers of these questions in this project. Personal Financial Success: The Six-Level Pyramid  Ãƒâ€š Using the six-level pyramid to help explain the various building blocks to financial success helps to reveal the development of financial planning and indications, at each level, if instruments that might be considered. At the first level of the pyramid, there are four stages that need to be considered. Before any phase of an action plan can be implemented, an individuals current situation must be determined. One must evaluate their personal income because the amount of money a makes directly affects the amount that person can save. After all debts and living expenses are subtracted form income, one can know how much to put in savings every week, month or year. The amount one puts in savings is very important. This will have bearing on a spouse, children, and retirement life. Saving money should become a top priority in the financial planning realm of life. Goals are another important factor in financial planning. Without goals, a person has nothing to strive for, nothing to loo k forward to. This should come with ease during the implementation of a financial action plan. Career choice plays a major role in ones ability to live at a certain level in society. There are many factors to consider when making a career choice. They include personal factors, social influences, economic conditions, and trends in the industry. A person must consider these things when deciding on a career if they want to have long-term success in any given profession or calling. Keeping good records and being organized is a necessity for a person with a successful financial action plan. After receipts have been found, invoices filed, and check numbers recorded, one can develop a budget. A budget simply allocates income to different areas of spending. For example, one family may spend two hundred and fifty dollars per week on groceries, while another only spends one hundred per week. A budget can be done on a weekly, bi-weekly , or monthly time frame basis. An important part of an overall budget is taxes. Taxes, in general, include federal and state, occasionally county expenses on land ownings and other purchases. A person should be fully aware of how to calculate their taxable income and on how to get help with taxes. The second level of the pyramid involves managing. The absolute first way to begin with money management is to get the money out of a pocket ( or from under a mattress ) and put it into am interest-bearing account. Before this can be done, however, the best bank suitable to a persons needs mus be located. To do this, one must evaluate the different banks rates, fees, and other factors such as number in branched in the area and the services offered. One should examine the gains and losses of having a checking account as well. Credit is a way of life for million of American today. In my opinion, one must be very cautious when choosing whether or not to use consumer credit. There are almost always hidden costs and consumer traps ready to suck a trusting person in. One should be aware of possible credit mistakes and try their best to avoid them. Also, spending far above ones personal income level can become a major problem if taken advantage of. In the market for loans, the most enduring statement is to Shop Around! A person will never know what could be gotten until they try to look for the best deal. One should be aware of the fluctuation of interest rates and the affect that they will have on the principle amount of money borrowed. The third level of the pyramid illustrates the major purchasing decisions in life. Should I buy that shiny new Mustang on credit or save that money for a down payment on a home in a nicer neighborhood? The allocation of personal funds is one of the most harrowing sets of decisions a person will ever make. The decision to purchase a home is in this set. This will probably be the most expensive purchase one will ever make. One should be sure that the purchase of a new home is not o utrageously out of his or her income range and that it meets all of their needs. The second most important purchase would be that of a new vehicle. A car purchase can be an exciting time. Since cars are seen as status symbols in society today, most people attempt to buy one that they cannot afford. This can be ruining to credit and make daily expenses much harder. Day to day existence in todays society can be dangerous if a person does not have adequate insurance coverage for self, spouse, and children ( if any ). The fourth stage of the pyramid deals with the adequate amount of insurance. How much is too much or too little? Risk management is a major factor in this. For example, a race car driver is not going to get a good a rate of insurance as a middle aged accountant. Factors such as car accidents, speeding tickets, safety measures taken, and daily activities such as smoking or drinking all affect the amount different types of insurance will cost an individual. After life insurance, I believe that the next necessity is to have automobile and home insurance. These are the two most likely things that someone might have to call on insurance to cover. Health care and disability insurance truly comes in to play when one has a family, nut possibly when single if severe illness occurs frequently. Finally in the fourth level, a value must for life insurance must be chosen. This is directly affected on who will be left depending on money received from your life insurance. This insurance money can be left as a legacy, as a help for funeral expenses, or even a gift from the deceased. The fifth stage of this financial planning pyramid is about investing. There are four fundamental ways that one can invest. They are stocks, bonds, mutual funds, and real estate. Stocks are divided into two main categories, common stock and preferred stock. Common stock makes money by dividing the value of an investment three ways: income from dividends, dollar appreciation of t he stock value, and stock splits. Preferred stock is similar to common stock. However, with preferred stock, the investor receives his/her cash dividends before the holders of common stock receive theirs. There are a number of factors that enable investors to evaluate the value of any certain stock. One can read daily newspapers, and gain information from professional in the stock market field. Bonds are divided into two main categories as well. A corporate bond is a corporations written pledge to repay a specified amount of money plus interest gained over a specific period of time. This total is referred to as the face value of the bond. Corporations issue bonds in order to have available monies to finance expansions, takeovers, etc. This is referred to as debt financing for a corporation. The other type of bond is one that is issued by the federal, state or a local government agency. The bonds that the federal government sells are referred to as treasury bills, notes, bonds, or sa vings bonds. These are used to finance the national debt and for the governments everyday activities. A municipal bond is one that is issued by a state or local government. All three of these types are said to be generally risk-free. As a financial planner, I would advise my client to seriously look into bonds. Mutual funds are unique in the fact that there is diversification of the purchased portfolio. A persons money goes into a large pool, which a company then invests in many different stocks. The last type of fundamental investing is Real estate. There are different types of real estate investments. For example, your home can be an investment if handled properly or one can purchase commercial property for resale only. The sixth and last stage of the pyramid involves retirement and estate planning. Taking steps now to ensure that a person has money during retirement is particularly important. This should be linked in with the amount of money chosen to save in part one of the f inancial planning program. Last of all, one must know a little about estate planning. There are legal and personal aspects of this matter. Estate planning is the plan for the disposition of ones property during ones lifetime and at ones death. Legally, everyone needs to have a last will and testament to ensure that their properties are distributed accordingly. A lawyer usually needs to be consulted on this matter. In summary, the most important aspect of financial planning is just what it states-PLANNING. A great deal of money can be gained and saved if the correct methods are incorporated into a persons everyday life and activities. OBJECTIVES We have conducted the study taking following objectives in our concern: To understand customers awareness about current market/ economic scenario. To understand customers awareness about financial planning. To understand how customers do their financial planning. Capture reasons for doing / not doing financial planning. Understand the key areas where investments and savings are made and rational reasons behind the same. Review of Literature Jim Gewert Named Executive Vice President of Worldwide Finance, Planning and Systems for Warner Bros. Home Entertainment Group An industry leader since its inception, WBHEG oversees the global distribution of content through packaged goods (Blu-ray Disc and DVD) and digital media in the form of electronic sell-through and video-on-demand via cable, satellite, online and mobile channels, and is a significant developer and publisher for console and online video game titles worldwide. AGL Resources; AGL Resources To Webcast 2010 Annual Meeting of Shareholders on April 27 During the meeting, AGL Resources Chairman, President and Chief Executive Officer John W. Somerhalder II will provide an update on the companys financial and operating performance and its business strategy. 2010 MAY 1 (VerticalNews.com) AGL Resources (NYSE:AGL) will webcast its annual meeting of shareholders on Tuesday, April 27, at 10 a.m. Eastern Daylight Savings Time. During the meeting, AGL Resources Chairman, President and Chief Executive Officer John W. Somerhalder II will provide an update on the companys financial and operating performance and its business strategy. The meeting will be held at the AGL Resources corporate headquarters at Ten Peachtree Place in Atlanta. Solutions Financial, Llc; Actfinancially.com Launches Personal Financial Planning Website The site includes personalized financial planning, budgeting, goal-setting tools and reports, a library of information and resources, blogs, tips, financial coaching help to manage money and community features such as forums, message boards and live chat for guidance and support. Financial Planning Steps Needed Now to Prepare for Health Care Bill Outcomes Even though the bill is still a few years from implementation, its not too soon to consider several financial planning strategies now to mitigate significant tax increases for the wealthy and the potential for increased borrowing costs for earners of all income levels, Kahler advises. Walking the Walk: A Financial Planner Teaching His Children In an interview, Daniel M. Stern, CFP, with his children, Lily and Benjamin, talked about financial planning for his kids. Stern said theyve been doing it two years now, since right after they talked. Looking at the idea of an allowance as something you give to the children; you dont base it upon work that theyre doing. Its so they can learn how to handle money and get a sense of the value of money and what can be done with it or not done with it. When it came to charity, they were trying to do it every week, but its not that big of an amount to give. Ben thinks its great. It gives them experience to know how to handle money. Lily also thinks its really good. Stern added that toward the last part of the year they had to adopt a spending moratorium. He thinks in todays society theres a huge amount of materialism. Lessons from Her Father Its no surprise that 30-year-old Kimberly Allman has her finances in order. Her parents guidance dovetailed with her own financial self-discipline. A Cornell Law School alum, Allman uses her financial sensibilities in two jobs: as manager at a nonprofit that helps homeowners avoid foreclosure, and as president of Allman Financial Planning LLC, her own personal finance consultancy. Allmans father helped to shape her relationship with money. Allman who is single, now follows her fathers example when she doles out advice to clients regarding debt, credit scores, and investments, among other concerns. In addition to her law degree, Allman has a bachelors in psychology and political science from Duke University, and shes set to receive a certificate in financial planning from Boston University this spring. While in school she avoided frills and kept expenses to a minimum. To reach her current level of financial security, Allman resisted shopping for handbags and jewelry. Money on Your Mind: The Brains Role in Financial Decision-Making The sophistication of modern civilization masks the fact that the brains have evolved little since the Stone Age. The neural programming of human beings was optimized for physical survival, not contemporary challenges such as financial decision-making. The human brain has separate, dedicated centers for coping with situations that present imminent danger or attractive rewards. When triggered by highly stimulating personal or financial events, these centers can cause the brain to react reflexively, dampening the ability to think analytically. Technology gives people ready access to their credit, savings, and investment accounts. Unfortunately, this access makes it easier for people to act upon impulsive financial decisions. This paper examines a case study to demonstrate how perceived financial dangers or rewards can unconsciously trigger emotions that override their rational decision-making. Financial planners also can help their clients develop new methods to read to financial sit uations in a more analytical manner that is consistent with the clients primary values. A House Divided: Americans Have Two Distinct Views Of Retirement The financial turmoil of the past few years has taken a huge toll on Americas confidence about the future and apparent readiness for retirement, said Jamie Ohl, senior vice president and director of The Hartfords Retirement Plans Group. The Planning Dynamic But The Hartfords research shows that people who have taken the time to plan their retirement are generally in a better place financially and are significantly more optimistic about the future than those who have not planned, Ohl said. OppenheimerFunds Survey: When It Comes to College for Their Kids, Women Drive the Planning Process But Many Take a Back Seat on Finances Later College funding is an issue for women in college, after college and for decades after, for both parents and students alike. Because women outnumber men on college campuses by a factor of almost three to two, women pay the price literally and figuratively for poor college financial planning, frequently dropping out or graduating with debt that can cast a shadow over much of their adult life, affecting even their ability to retire, Winn said. The Financial Planning Association(R) of Arkansas iShares* Make $20,000 Contribution to Arkansas Aspiring Scholars Matching Grant Program For more information about the iShares 529 Plan, contact your financial advisor, call 1-888-529-9552 or visit www.ishares529.com to obtain a Program Description and Participation Agreement which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing or sending money. If you are not an Arkansas taxpayer, consider before investing whether your or the designated beneficiarys home state offers any state tax or other benefits that are only available for investments in such states qualified tuition program. METHODOLOGY Methodology is a strategy that guides a research in providing answers to research questions and for which, research survey is being done. This study has been carried in the following manner:- Methodology Adopted Questionnaire Design: The questionnaire was prepared covering the details about the client and the above objectives. The questions were designed in an easily understandable way with the help of (Miss. Nancy sahni ) that the respondents may not have any difficulty in answering them. The questionnaire also contained a comments section. This section was included so as to get opinion of the people. Random Sampling: Sampling can be defined as a part of population. Thus random sampling may be defined as the selection of a portion from the whole population in which each elements of the population has an equal chance of being selected. In this research survey people were surveyed at random to get the relevant information. Sampling Techniques: The sampling techniques used in this project are probability sampling techniques and the methods used in cluster sampling. Sampling Unit: The respondents who were asked to fill out questionnaires are the sampling units. In this survey these comprise of Govt. Employees and Self Employed persons. Sample size: The sample size was restricted to only 100 people between age group more than 25 years which comprised of mainly peoples from the area where the survey was conducted. Data Collection: Structured Questionnaire: In this part of data collection, structured questionnaire was used as a tool by asking a set of standardized questions which answers we needed to know. Interpretation: Interpretation refers to the task of drawing inference from the collected facts after an analytical study. The simple statistical tools are used to analyze the data collection. Bar Graphs and pie chart have been used to illustrate the findings diagrammatically. AREA OF SURVEY https://www.radhasoamiji.in/images/map.jpg The survey was conducted in a village BEAS and Mehru which is situated in kapurthala district in Punjab. Though it is a town of almost 40,000 people yet its market caters the need of a large customer base which comprises of people, in addition to the town people, living in several villages that surround the town. It is situated near the BEAS river and second near Phagwara, so people from other side also come here for shopping. This is a reason that a big part of population here is involved in business and related activities. A good number of service class people are also present here, because of working of several Government organisations in the town. Block Office, Subdivision Office, Seema Suraksha Bal, Registration Office, Banks, Food Corporation of India, Irrigation Department, Public Work Department, Govt Schools, Municipal Office and also some other departments are working here. In financial institutions here these are pre sent: State Bank of India (CBS) Punjab National bank of India (CBS) Bank of India Life Insurance Corporation of India ( Satellite Branch ) Bajaj Allianz LIC Co LTD ( Branch Office ) Rahika Co-operative Bank ( Branch Office ) Sahara India ( Branch Office ) Some other institutions like à ¢Ã¢â€š ¬Ã¢â‚¬Å" Birla Sunlife, Reliance Life Insurance, ICICI Prudential also work here controlling their activities from Main branch. LIMITATIONS The report is prepared on the basis of responses given by the respondents and is confined to the area of survey, so it does not necessarily show a pattern applicable to other areas also. Some respondents were reluctant to divulge personal information which can affect the validity of all responses. In a rapidly changing environment, analysis on one day or in one segment can change very quickly. The environmental changes are vital to be considered in order to assimilate the findings.

Saturday, May 16, 2020

Display the Last Modified Date Using JavaScript

When youre reading content on the Web, its often useful to know when that content was last modified to get an idea of whether it may be outdated. When it comes to blogs, most include dates of publication for new content posted. The same is true for many news sites and news articles. Some pages, however, dont offer a date for when a page was last updated. A date isnt necessary for all pages—some information is evergreen. But in some cases, knowing the last time a page was updated is important. Even though a page may not include a last updated date, there is a simple command that will tell you this, and it doesnt require you to have a lot of technical knowledge. JavaScript Command to Display the Date of the Last Modification To get the date of the last update on a page youre currently, on, simply type the following command into the address bar of your browser and press Enter or select the Go button: javascript:alert(document.lastModified) A JavaScript alert window will pop open displaying the last date and time the page was modified. For users of the Chrome browser and some others, if you cut-and-paste the command into the address bar, be aware that the javascript: part is removed. This doesnt mean you cant use the command. You will just need to type that bit back into the command in the address bar. When the Command Doesnt Work Technology for web pages changes over time, and in some cases the command to find out when a page was last modified wont work. For example, it wont work  on sites where the page content is generated dynamically. These types of pages are, in effect, being modified with each visit, so this trick doesnt help in these cases. An Alternative Method: The Internet Archive Another means of finding when a page was last updated is using the Internet Archive, also known as the Wayback Machine. In the search field at the top, enter the full address of the web page you want to check, including the http:// part. This wont give you a precise date, but you may be able to  get an approximate idea of when it was last updated. Note, though, that the calendar view on the Internet Archive site only indicates when the Archive has crawled or visited and logged the page, not when the page was updated or modified. Adding a Last Modified Date to Your Web Page If you have a webpage of your own, and you would like to show visitors when your page was last updated, you can do this easily by adding some JavaScript code to your pages HTML document. The code utilizes the same call shown in the previous section: document.lastModified: This will display text on the page in this format: Last updated on  08/09/2016 12:34:12 You can customize the text preceding the date and time displayed by changing the text between the quotation marks—in the above example, that is the Last updated text (note that there is a space after on so that the date and time arent displayed abutting the text).

Wednesday, May 6, 2020

Why I Am I At The University Of Iowa - 929 Words

Introduction Who is Chad Richmond? Why am I in the field of student affairs? Why am I at the University of Iowa? These are questions that I have to ask myself everyday and I typically answers them a different way every time. It has been a long journey for me to get where I am today and this paper will discuss those aspects that have both helped and even hindered my path at times. Many different people, events, goals and problems have helped shaped who I am today, but they are all important to who I am today. I can be generically labeled relatively easily but those labels don’t always tell the really story. I am a son, brother, uncle, student, college graduate, educator, employee and friend. I am also someone who thought college was out of reach and never would guessed I would be in graduate school now. I am also very competitive and strive to excel in everything including both inside and outside of the classroom. My journey to graduate school will be discussed below and hopefully show how I ended up at the University of Iowa. The Path to Graduate School As stated above, I didn’t always think that college was in my future after high school. I was a wrestler for most of my life and I thought the only way that I was going to college was to receive a scholarship for athletics. My senior year I was being recruited to wrestle at four Big Ten universities and thought it was my ticket to college. During a practice at the end of the season, I was wrestling and tore my meniscusShow MoreRelatedWhy The University Of Iowa Essay870 Words   |  4 Pageswhat drew me to the University of Iowa, my approach to the role of president, and the need to work together. I’d like to take this opportunity to start a broader conversation. Why the University of Iowa? I’ve been asked this question by both supporters and detractors in recent weeks. 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To become an obstetrician it requires an average of 12 years of education and training. You need to complete a fourRead More The Use of Alcohol Should be Banned for all State University Undergraduate Students1426 Words   |  6 PagesThe Use of Alcohol Should be Banned for all State University Undergraduate Students According to the Core Institute, an organization that surveys college drinking practices, 300,000 of todays college students will eventually die of alcohol-related causes such as drunk driving accidents, cirrhosis of the liver, various cancers and heart disease (Phoenix House). All around the State campus, at frat parties, in black-light-lit dorm rooms, and even at casual social gatherings, alcohol can beRead MoreInternship-HR Job Assessment : Posting Assessment1022 Words   |  5 PagesM/F/Vet/Dis Job:Human Resources Primary Location: LeMars Iowa Schedule: Full-time I decided to decide this specific job positioning because it is in my hometown. 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Tuesday, May 5, 2020

Media Law and Ethics for Legal System- MyAssignmenthelp.com

Question: Discuss about theMedia Law and Ethicsfor Malaysian Legal System. Answer: The Malaysian legal system is primarily based on the common Law legal system. The Constitution of Malaysia is considered as the supreme law of the land that outlines the legal structure and the rights of the citizens of Malaysia (Tan 2016). Malaysia follows parliamentary democracy under the administration of a constitutional monarchy with His Majesty Yang Di-Pertuan Agong as the head of the state. The legislative authority is the power to legislate laws that are applicable to the Federation under Article 66(1) of Federal Constitution. At the Federal level, the legislative power is vested in a bicameral Parliament that is led by the Yang Di-pertuan Agong and include the Dewan Negara (House of Senate) and Dewan Rakyat (House of Representatives). The Parliament exercises its power to enact Law by passing Bills in both the Houses. A bill is originated in either House except for Money Bill which must be originated in the House of Representatives and a Minister can only introduce the Bill as laid down under Article 67 of the Federal Constitution. When a bill is introduced in a House, it shall be sent it to the other House after the bill is passed by the house where it was initially introduced. After the Bill is passed by both the houses, it shall be presented before Yang Di-Pertuan Agong for his assent as stipulated under Article 66(3) of the Federal Constitution. In both the Houses of Parliament, a Bill has to go through several stages of Reading before it is finally passed. During the First reading stage, the Minister introduces the bill in Dewan Rakyat by giving a reading on the short title of the Bill (Shin and Aslam 2015). During the second reading stage, the contents of the Bill are discussed in detail and are debated at length by all the members of the Dewan Rakyat. Thereafter, the Bill goes through a committee stage where the committee members discuss the technical details of the content of the Bill. During this stage, the committee members shall examine the Bill and consider any amendment if it is necessary. The report of amendment shall be circulated to all the members of the Dewan Rakyat. At the stage of the third reading, the Bill shall be sent to the Dewan Negara where the Bill shall go through the same process before it is passed by the house and sent to the Yang Di-Pertuan Agong for his assent. After the bill is sent to the Dewa n Negara, it may recommend necessary recommendations and send the same to the Dewan Rakyat for consideration of the recommended amendments. The House of Representatives may accept or reject such recommendations made the House of Senates (Mokhtar 2017). According to Article 66(4) of the Federal Constitution, the Yang Di-Pertuan Agong (YDPA) must give his assent to the Bill by affixing a pubic seal thereto. However, under Article 66(4) and 4 A of the Federal Constitution, the YDPA must assent the Bill within 30 days from the date the Bill is presented before him. After the expiry of the 30 days, it shall be deemed that the YDOA has assented to the Bill and it will automatically become a Law. The Bills assented by the Yang Di-Pertuan Agong becomes law, however, no bill shall be deemed to be a legislation unless the same has been gazette and published under Article 66(5) of the Federal Constitution. Further, at the time of emergency, the Yang Di-Pertuan Agong may frame laws by way of issuing emergency ordinances and in order to enact the laws during the time of emergency, the YDPA need not follow the legal procedure to enact law (Ariffin et al. 2014). Reference List Ariffin, M.Y.M., Liaw, J.O.H., Abdullah, M.R.T. and Husin, W.N.W., 2014. The Practices of Protocol in Malaysian Society. Mokhtar, K.A., 2017. Institutions and mechanisms for internal conflict resolution: legal and non-legal means in resolving dispute and attaining justice in Malaysia.Jurnal Media Hukum,23(2), pp.171-185. Shin, T.Y. and Aslam, M., 2015. MALAYSIA: MEMBERS OF PARLIAMENT AND THE BUDGET PLAN.Journal of Southeast Asian Studies,18(1). Tan, K.Y., 2016. 4 Judicial review of elections in Malaysia.Judicial Review of Elections in Asia, p.57.