Created through a "student-tested, faculty-approved" review process with specific student and faculty input, PFIN2 is an engaging and accessible solution to accommodate the diverse lifestyles of today's learners at a value-based price. PFIN2 details all of your personal finance course content in a concise, approachable format. The book incorporates a solid life-cycle approach on reaching personal financial goals from planning, saving, investing, and buying a home and car to managing taxes and insurance. This edition incorporates the latest financial laws, developments, priorities and changes with step-by-step learning features and real examples to ensure you master today's most important personal finance skills.
- PRINT AND ONLINE CONTENT DELIVER ROBUST TEACHING AND LEARNING ASSETS. Based on input from student focus groups and surveys and from interviews with a large number of faculty and students, this magazine-style core text and wealth of integrated multimedia teaching and learning resources produce an engaging and accessible solution that appeals to different learning styles at a value-based price.
- SHORTER, COMPREHENSIVE CHAPTERS COMMUNICATE PERSONAL FINANCE CONCEPTS WITHIN A MODERN DESIGN. PFIN2 uses an engaging and accessible format to deliver more personal finance content without minimizing coverage for your course.
- CHAPTER-IN-REVIEW CARDS AT THE BACK OF THE STUDENT EDITION PROVIDE STUDENTS WITH A PORTABLE STUDY TOOL. Chapter-in-Review Cards contain pertinent information students need for effective class preparation.
- INSTRUCTOR PREP CARDS MAKE CLASS PREPARATION SIMPLE. Detachable Instructor Prep Cards for each chapter, conveniently located in the back of the Instructor's Edition, offer a quick map of chapter content, a list of corresponding PowerPoint and video resources, additional examples, and suggested assignments and discussion questions to help you organize chapter content efficiently.
- A FULL SUITE OF UNIQUE LEARNING TOOLS APPEAL TO DIFFERENT LEARNING STYLES. Online study tools are available to students with the purchase of a new book. Online resources, including quizzing, videos, bonus exercises and exhibits and more, are only a click away.
- CONTENT AND RESOURCES PROVIDE A SUPPLEMENT PACKAGE THAT IS SECOND TO NONE. This edition provides all of the content and resources you expect, including engaging PowerPoint slides, a useful Instructor's Manual, Test Bank with ExamView testing software, exhibits in PDF format, and optional online homework solutions -- CengageNOW and Aplia.
- INTEGRATED LEARNING SYSTEM SUPPORTS ENTIRE TEXT AND GUIDES STUDENT LEARNING. Six clear Learning Goals open each chapter and are reinforced through chapter headlines, summaries, end-of-chapter problems, while online Concept Checks (found on CourseMate), referencing each major section, help ensure students thoroughly understand the material.
- INTERACTIVE WORKSHEETS IN EXCEL FORMAT PROVIDE VALUABLE HANDS-ON PRACTICE. Convenient, interactive Excel worksheets in this edition that correspond with the personal finance concepts and exercises in each chapter offer your students a hands-on opportunity to practice and apply the skills they've mastered. The Excel format is easier and more efficient to use than previous formats.
- KIPLINGER VIDEOS PROVIDE MEMORABLE AND TIMELY INSIGHTS AND FINANCIAL ADVICE. Engaging Kiplinger Videos accompany this edition, available from the leading Kiplinger Co., provide quick and direct money management and investing advice to your students within brief, insightful videos.
About the Authors
Lawrence J. Gitman
Dr. Lawrence J. Gitman is an emeritus professor of finance at San Diego State University. He received his B.A. from Purdue University, M.B.A. from the University of Dayton, and Ph.D. from the University of Cincinnati. Dr. Gitman is a prolific author and has more than 50 articles appearing in Financial Management, the Financial Review, the Journal of Financial Planning, the Journal of Risk and Insurance, the Financial Services Review, the Journal of Financial Research, Financial Practice and Education, the Journal of Financial Education, and other scholarly publications. He has authored and co-authored numerous best-selling textbooks on various finance and business topics as well as investing. Authors Gitman and Joehnk's INVESTMENT FUNDAMENTALS: A GUIDE TO BECOMING A KNOWLEDGEABLE INVESTOR was selected as one of 1988's ten best personal finance books by Money magazine. An active member of numerous professional organizations, Dr. Gitman is past president of the Academy of Financial Services, the San Diego Chapter of the Financial Executives Institute, the Midwest Finance Association, and the FMA National Honor Society. In addition, he is a Certified Financial Planner® (CFP®). Dr. Gitman formerly served as a director on the CFP® Board of Governors, as vice president–financial education for the Financial Management Association, and as director of the San Diego MIT Enterprise Forum. He has two grown children and lives with his wife in La Jolla, California, where he is an avid cyclist.
Michael D. Joehnk
Michael D. Joehnk is an emeritus professor of finance at Arizona State University. In addition to his academic appointments at ASU, Dr. Joehnk spent a year as a visiting professor of finance at the University of Otago in New Zealand. He received his B.A. and Ph.D. degrees from the University of Arizona and his M.B.A. from Arizona State University. A Chartered Financial Analyst (CFA), he has served as a member of the Candidate Curriculum Committee and of the Council of Examiners of the Institute of Chartered Financial Analysts. He has also served as a director of the Phoenix Society of Financial Analysts and as secretary-treasurer of the Western Finance Association, and was elected to two terms as vice-president of the Financial Management Association. Dr. Joehnk has authored or co-authored more than 50 articles, five popular books, and numerous monographs. In addition to co-authoring several books with Dr. Gitman, Dr. Joehnk wrote the highly successful paperback tradebook, INVESTING FOR SAFETY'S SAKE. He has also served as editor and has contributed to several other prominent books. His articles have appeared in Financial Management, the Journal of Finance, the Journal of Bank Research, the Journal of Portfolio Management, the Journal of Consumer Affairs, the Journal of Financial and Quantitative Analysis, the AAII Journal, the Journal of Financial Research, the Bell Journal of Economics, the Daily Bond Buyer, Financial Planner, and other publications. Dr. Joehnk served a six-year term as executive co-editor of the Journal of Financial Research. He and his wife live in Flagstaff, Arizona, where they enjoy hiking and other activities in the nearby mountains and canyons.
Randall S. Billingsley is a finance professor at Virginia Tech. He received his B.A. in economics from Texas Tech University and both an M.S. in economics and a Ph.D. in finance from Texas A&M University. Dr. Billingsley holds the Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), and Certified Rate of Return Analyst (CRRA) professional designations. An award-winning teacher at the undergraduate and graduate levels, his research, consulting, and teaching focus on investment analysis and issues relevant to practicing financial advisors. Formerly a vice president at the Association for Investment Management and Research (now the CFA Institute), Dr. Billingsley's published equity valuation case study of Merck & Company was assigned reading in the CFA curriculum for several years. In 2006 the Wharton School published his book, UNDERSTANDING ARBITRAGE: AN INTUITIVE APPROACH TO FINANCIAL ANALYSIS. In addition, his research has been published in refereed journals, including the Journal of Portfolio Management, the Journal of Banking and Finance, Financial Management, the Journal of Financial Research, and the Journal of Futures Markets. Dr. Billingsley advises the Student-Managed Endowment for Educational Development (SEED) at Virginia Tech, which manages an equity portfolio of about $4 million on behalf of the Virginia Tech Foundation. Dr. Billingsley has acted extensively as an expert witness on financial issues. He has also taught seminars and published materials to prepare investment professionals for CFA examinations. He has consulted throughout the U.S., Canada, Europe, and Asia, where he always strives to apply the findings of academic financial research to practical investment decision making and personal financial planning.
Table of Contents
Part I: FOUNDATIONS OF FINANCIAL PLANNING.
1. Understanding the Financial Planning Process.
2. Developing Your Financial Statements and Plans.
3. Preparing Your Taxes.
Part II: MANAGING BASIC ASSETS.
4. Managing Your Cash and Savings.
5. Making Automobile and Housing Decisions.
Part III: MANAGING CREDIT.
6. Using Credit.
7. Using Consumer Loans.
Part IV: MANAGING INSURANCE NEEDS.
8. Insuring Your Life.
9. Insuring Your Health.
10. Protecting Your Property.
Part V: MANAGING INVESTMENTS.
11. Investment Planning.
12. Investing in Stocks and Bonds.
13. Investing in Mutual Funds and Real Estate.
Part VI: RETIREMENT AND ESTATE PLANNING.
14. Planning for Retirement.
15. Preserving Your Estate.
Appendix A Table of Future Value Factors.
Appendix B Table of Future Value Annuity Factors
Appendix C Table of Present Value Factors.
Appendix D Table of Present Value Annuity Factors.
Appendix E Using a Financial Calculator.
New to this Edition
- NEW UPDATES THROUGHOUT THIS EDITION RELFECT THE LATEST FINANCIAL LAWS AND INFORMATION. All information and data throughout this edition now reflects today's most current statistical information and laws regarding taxes, health care, credit, banking, and estate planning.
- NEW FINANCIAL PLANNING QUESTIONS PROMPT CRITICAL THINKING AND DECISION MAKING FOR READERS. Select chapters in this new edition now offer new Financial Planning Questions that guide students through important financial considerations and decisions.
- UPDATED LEARNING FEATURES REFLECT THE MOST CURRENT PRIORITIES AND CHANGES IN FINANCE TODAY. This new edition provides updated Financial Road Signs and Money in Action features that reflect today's most recent financial developments and trends while guiding students in applying personal finance concepts. Critical Thinking Questions accompanying Money in Action enrich text discussions by highlighting actual financial planning ideas, experiences and business practices drawn from today's real financial world.