Nelson Higher Education

Higher Education

Personal Financial Planning, 14th Edition

  • Randy Billingsley
  • Lawrence Gitman
  • Michael Joehnk
  • ISBN-10: 1305636619
  • ISBN-13: 9781305636613
  • 656 Pages | Hardcover
  • Previous Editions: 2014, 2011, 2008
  • COPYRIGHT: 2017 Published
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Overview

About the Product

PERSONAL FINANCIAL PLANNING, 14E, provides the framework and context for solving key personal financial planning problems. Using numerous examples, practical illustrations, and a lot of common sense and intuition, instructors will find both appealing substance and style that will effectively engage the student.

Features

  • THOROUGH UPDATES BRING A MORE PERSONAL TOUCH TO THE SUBJECT MATTER. A friendly tone helps relate big financial ideas to students’ everyday lives, based on the latest research and input from practicing professionals and leading instructors. The book continues to emphasize how key principles of personal financial planning--saving, diversifying investments, watching expenditures, and borrowing carefully--remain valid.

  • CRISP, EXCITING, AND FRIENDLY NEW DESIGN ENCOURAGES STUDENTS’ UNDERSTANDING. Based on feedback from current instructors, financial planners, and students, this edition incorporates numerous updates and a fresh design to ensure that the book presents financial information in a clear, concise, and understandable manner. Updated, practical sidebar discussions provide useful tips and guidelines, and numerous learning features reinforce the inviting, meaningful design.

  • TIMELY, UPDATED “FINANCIAL ROAD SIGNS” AND “FINANCIAL PLANNING TIPS” OFFER HELPFUL HINTS AND VALUABLE SUGGESTIONS FOR FINANCIAL DECISIONS. These brief, helpful “Financial Road Signs” and “Financial Planning Tips” suggest what students should consider when implementing parts of a financial plan and making personal financial decisions in today’s times. Students will find invaluable advice on developing budgets, handling student debt, doing online banking, purchasing vehicles, using debit cards, buying health or life insurance, investing, avoiding online job search mistakes, and much more.

  • STUDENTS WILL RELATE TO CHAPTER CONTENT IMMEDIATELY. A How Will This Affect Me? feature appears at the beginning of each chapter. The feature explains in plain language why students should find the chapter’s topic relevant to their life, engaging students from the start. Each chapter also opens with a series of statements presented as Financial Fact or Fantasy in the related chapter material. Each statement is critically evaluated as fact or fantasy in the context of the relevant material.

  • UPDATED END-OF-CHAPTER FEATURES ENSURE COMPREHENSION AND PRACTICAL APPLICATION. Useful Summaries at the end of each chapter relate review back to Learning Goals, and Financial Planning Exercises and Critical Thinking Cases allow students to test and apply their understanding of the material. “Applying Personal Finance” outside-of-class projects or exercises and Worksheets corresponding to end-of-chapter problems help students manage their personal finances. And the Financial Impact of Personal Choices feature presents a personal financial planning decision related to an important topic in each chapter and evaluates the outcome.

About the Author

Randy Billingsley

Randall S. Billingsley serves as a finance professor at VirginiaTech. He earned his bachelor’s in economics from Texas Tech University and received his 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 instructor 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 published an equity valuation case study of Merck & Company that 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 such as 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 $5 million on behalf of the Virginia Tech Foundation. To date, Dr. Billingsley’s consulting has focused on providing expert testimony on financial issues as well as helping investment professionals prepare for the CFA exams. Dr. Billingsley enjoys exploring and discussing the relationships among diverse areas of investment analysis as his consulting takes him throughout the United States, Canada, Europe and Asia.

Lawrence Gitman

Lawrence J. Gitman is an emeritus professor of finance at San Diego State University. He received his bachelor’s degree from Purdue University, his M.B.A. from the University of Dayton and his Ph.D. from the University of Cincinnati. Dr. Gitman is a prolific textbook author with numerous best-selling books, and he has written more than 50 articles for various finance journals. 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, Dr. Gitman is a Certified Financial Planner® (CFP®). He formerly served as a director on the CFP® Board of Governors in addition to functioning as vice-president–financial education for the Financial Management Association and as director of the San Diego MIT Enterprise Forum. Dr. Gitman has two grown children and lives with his wife in La Jolla, California, where he is an avid bicyclist.

Michael 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 served as a member of the Candidate Curriculum Committee and of the Council of Examiners of the Institute of Chartered Financial Analysts. He also served as a director of the Phoenix Society of Financial Analysts and as secretary-treasurer of the Western Finance Association. He was also elected to two terms as vice president of the Financial Management Association. In addition, Dr. Joehnk was the editor of Institutional Asset Allocation, which was sponsored by the Institute of Chartered Financial Analysts and published by Dow Jones-Irwin. He also has contributed to the Handbook for Fixed Income Securities and to Investing and Risk Management, Volume 1 of the Library of Investment Banking. In addition, 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 surrounding areas.

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.

New to this edition

  • THE MOST CURRENT UPDATES AVAILABLE REFLECT THE LATEST TAX LAWS AND FINANCIAL DATA. The latest updates to this leading text incorporate all of the newest tax laws with special sections on tax preparation as well as recent personal examples and contemporary financial advice. The latest financial data, figures, and tables keep your course up to date as you present text content.
  • HIGHLIGHTED PRACTICAL EXAMPLES. Each chapter has a series of highlighted practical examples that illustrate everyday applications of the covered material. Examples include the impact of starting an IRA early, calculating the maximum affordable mortgage, credit card choice trade-offs, homeowner’s insurance policy coverage limits, evaluating mutual funds and exchange-traded funds, and the use life insurance in estate planning.
  • THE “FINANCIAL IMPACT OF PERSONAL CHOICES” EXAMINES AN IMPORTANT DECISION RELATED TO EACH CHAPTER. New to the 14th edition is the Financial Impact of Personal Choices feature, which presents a personal financial planning decision related to an important topic in each chapter and evaluates the outcome.

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Web Site with Instructor's Manual, Test Bank and PowerPoint®  (ISBN-10: 1305636791 | ISBN-13: 9781305636798)
Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305636813 | ISBN-13: 9781305636811)

Cengage Learning Testing Powered by Cognero® is a flexible, online system that allows you to: import, edit, and manipulate content from the text’s test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.

MindTap Finance, 1 term (6 months) Instant Access for Billingsley/Gitman/Joehnk's Personal Financial Planning  (ISBN-10: 1305636651 | ISBN-13: 9781305636651)

MindTap Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.

MindTap Finance, 1 term (6 months) Printed Access Card  (ISBN-10: 130563666X | ISBN-13: 9781305636668)

MindTap Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.

CengageNOW, 1 term (6 months) Instant Access  (ISBN-10: 1305636716 | ISBN-13: 9781305636712)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For instructors, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

CengageNOW, 1 term (6 months) Printed Access Card  (ISBN-10: 1305636724 | ISBN-13: 9781305636729)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For instructors, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

MindTapV2.0 Finance, 2 terms (12 months) Instant Access for Billingsley/Gitman/Joehnk's Personal Financial Planning  (ISBN-10: 1337901458 | ISBN-13: 9781337901451)

MindTapV2.0 Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.

Instructor's Edition  (ISBN-10: 1305636627 | ISBN-13: 9781305636620)

Student Supplements

MindTap Finance, 1 term (6 months) Instant Access for Billingsley/Gitman/Joehnk's Personal Financial Planning  (ISBN-10: 1305636651 | ISBN-13: 9781305636651)

MindTap Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition helps you learn on your terms. INSTANT ACCESS IN YOUR POCKET. Take advantage of the MindTap Mobile App. Read or listen to textbooks and study with the aid of instructor notifications, flashcards, and practice quizzes. MINDTAP HELPS YOU GEAR UP FOR ULTIMATE SUCCESS. Study tools include mastery training, which adapts to the way you learn key concepts best. Track scores and stay motivated toward goals. Whether you have more work to do or are ahead of the curve, you’ll know where to focus efforts. And the MindTap Green Dot will charge your confidence along the way. MINDTAP HELPS YOU MAKE THE TEXT YOURS. No one knows what works for you better than you. Highlight key text, add notes, and create custom flashcards. When it’s time to study, everything you’ve flagged or noted can be gathered into a guide.

MindTap Finance, 1 term (6 months) Printed Access Card  (ISBN-10: 130563666X | ISBN-13: 9781305636668)

MindTap Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition helps you learn on your terms. INSTANT ACCESS IN YOUR POCKET. Take advantage of the MindTap Mobile App. Read or listen to textbooks and study with the aid of instructor notifications, flashcards, and practice quizzes. MINDTAP HELPS YOU GEAR UP FOR ULTIMATE SUCCESS. Study tools include mastery training, which adapts to the way you learn key concepts best. Track scores and stay motivated toward goals. Whether you have more work to do or are ahead of the curve, you’ll know where to focus efforts. And the MindTap Green Dot will charge your confidence along the way. MINDTAP HELPS YOU MAKE THE TEXT YOURS. No one knows what works for you better than you. Highlight key text, add notes, and create custom flashcards. When it’s time to study, everything you’ve flagged or noted can be gathered into a guide.

CengageNOW, 1 term (6 months) Instant Access  (ISBN-10: 1305636716 | ISBN-13: 9781305636712)

Have the tools you need to be successful -- A variety of tools are available in CengageNOW™, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. This access code entitles you to 1 course enrollment. The duration of the code is course length + 14 days.

CengageNOW, 1 term (6 months) Printed Access Card  (ISBN-10: 1305636724 | ISBN-13: 9781305636729)

Have the tools you need to be successful -- A variety of tools are available in CengageNOW™, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. This access code entitles you to 1 course enrollment. The duration of the code is course length + 14 days.

MindTapV2.0 Finance, 2 terms (12 months) Instant Access for Billingsley/Gitman/Joehnk's Personal Financial Planning  (ISBN-10: 1337901458 | ISBN-13: 9781337901451)

MindTapV2.0 Finance for Billingsley/Gitman/Joehnk’s Personal Financial Planning, 14th Edition helps you learn on your terms. INSTANT ACCESS IN YOUR POCKET. Take advantage of the MindTap Mobile App. Read or listen to textbooks and study with the aid of instructor notifications, flashcards, and practice quizzes. MINDTAP HELPS YOU GEAR UP FOR ULTIMATE SUCCESS. Study tools include mastery training, which adapts to the way you learn key concepts best. Track scores and stay motivated toward goals. Whether you have more work to do or are ahead of the curve, you’ll know where to focus efforts. And the MindTap Green Dot will charge your confidence along the way. MINDTAP HELPS YOU MAKE THE TEXT YOURS. No one knows what works for you better than you. Highlight key text, add notes, and create custom flashcards. When it’s time to study, everything you’ve flagged or noted can be gathered into a guide.