This course introduces you to the basic tenets of Wealth Management. This course also reinforces concepts covered in Financial Literacy Courses. We will begin by exploring the links between skills accumulation and wealth accumulation. We will construct Personal Balance Sheets. Personal Balance Sheets are an effective tool to measure how wealth is accumulated. We will review the formula for human capital and use it to estimate human capital. We will also examine Financial Planning. In particular we will review the Present Value of Lifetime Expenditures exercise. This exercise is typically taught in introductory Finance courses at the undergraduate and MBA level. We will examine the Budgeting process and illustrate how even Financial Analysts can sometimes lose control of their finances. Further, we will cover Asset Allocation and Risk Management which are critical to the Wealth Accumulation process. Finally we will discuss Estate Planning.
This course offers a preview of what you can expect in the MBA Program. Here are some highlights:
We will discuss the value of Continuing Professional Education.
We will discuss how your Negotiation Skills can enhance your wealth.
We will examine the case of Megan, a financial analyst who lost control of her finances.
We will examine actual Household Budgets. One highlight is that people spend around 1% on alcoholic beverages whether one is making 40K annually or 120K annually.
We will examine the asset allocation of households.
Your savings may be in a checking account at a bank. We will examine how the Federal Deposit Insurance Corporation shuts down failing banks.
We will examine financial strategies that one should consider in a divorce situation.
We will examine the importance of revocable living trusts.
Raj Gupta is a lecturer at the Isenberg School of Management at the University of Massachusetts, Amherst. He joined the American College of Healthcare Trustees as a Faculty Contributor in 2014 and is the Chief Financial Officer and Member of the Board. Previously he was Research Director of the Center for International Securities and Derivatives Markets (CISDM) at the University of Massachusetts, Amherst. He has also taught finance at Clark University. Gupta has extensive experience developing online courses in Finance. He has published articles in various financial journals. He holds a PhD in Finance from the University of Massachusetts, Amherst.
StartAbout this Section on Wealth Accumulation
StartNotes on Wealth Accumulation
StartWealth Accumulation Lecture Video (29:47)
StartNew York Fed Study on Earnings Potential and Unemployment Rates
StartSurvey of Consumer Finances Chartbook, 2013
StartFinal Report of the Special Master for the 911 Victim Compensation Fund