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Dr. Craig Lemoine
This course explores financial planning and investment strategies across the consumer lifecycle. It covers investment theories, cognitive biases, and their impact on financial decisions. You'll analyze case studies to understand wealth building, evaluate financial planning and wealth management strategies, and discuss generational wealth transfer. The course also examines financial strategies for those in their 40s and 50s, considering retirement savings and alternative investments. Finally, it assesses the role of private market and non-traditional investments in early wealth accumulation.
Read more
This course explores financial planning and investment strategies across the consumer lifecycle. It covers investment theories, cognitive biases, and their impact on financial decisions. You'll analyze case studies to understand wealth building, evaluate financial planning and wealth management strategies, and discuss generational wealth transfer. The course also examines financial strategies for those in their 40s and 50s, considering retirement savings and alternative investments. Finally, it assesses the role of private market and non-traditional investments in early wealth accumulation.
Read more
This course explores financial planning and investment strategies across the consumer lifecycle. It covers investment theories, cognitive biases, and their impact on financial decisions. You'll analyze case studies to understand wealth building, evaluate financial planning and wealth management strategies, and discuss generational wealth transfer. The course also examines financial strategies for those in their 40s and 50s, considering retirement savings and alternative investments. Finally, it assesses the role of private market and non-traditional investments in early wealth accumulation.
This course is part of the College of ACES suite of online programs, including the graduate-level certificate, "Land, Agriculture and Alternative Investing" that can be stacked toward a master's degree. To learn more about online programs from the College of ACES and explore ways to apply your Coursera work toward a degree program at the University of Illinois, visit ACES Online at acesonline.illinois.edu.
Register for this course and see more details by visiting:
OpenCourser.com/course/sdomc4/alternative
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What's inside
Syllabus
Orientation & Module 1 | Exploring Financial Planning and Investment Options Throughout the Consumer Lifecycle
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Then dive into the second part of this module to assess various investment theories throughout the client lifecycle by comparing the long-term financial impacts of saving versus investing. You’ll also examine the influence of cognitive biases, such as anchoring and confirmation bias, on financial decision-making and investment behaviors.
Read more
Syllabus
Orientation & Module 1 | Exploring Financial Planning and Investment Options Throughout the Consumer Lifecycle
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Then dive into the second part of this module to assess various investment theories throughout the client lifecycle by comparing the long-term financial impacts of saving versus investing. You’ll also examine the influence of cognitive biases, such as anchoring and confirmation bias, on financial decision-making and investment behaviors.
Read more
Traffic lights
Traffic lights
Read about what's good
what should give you pause and
possible dealbreakers
Examines financial strategies tailored for individuals in their 40s and 50s, which is a crucial demographic for retirement and wealth management planning
Explores wealth management strategies and generational wealth transfer, which are essential topics for professionals in financial planning and wealth management
Assesses the role of private market and non-traditional investments in early wealth accumulation, which may be of interest to those seeking diverse investment strategies
Explores financial planning and investment strategies across the consumer lifecycle, which provides a broad understanding of financial decision-making
Part of a suite of online programs that can be stacked toward a master's degree, which may appeal to students seeking further education in related fields
Examines the influence of cognitive biases on financial decision-making and investment behaviors, which may be useful for anyone making financial decisions
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Reviews summary
Alternative investments and aging wealth
According to learners, this course offers a highly relevant overview of financial planning and investment strategies as individuals age, particularly focusing on retirement savings and the role of alternative investments. Students found the coverage of cognitive biases and their impact on financial decisions particularly insightful. The inclusion of case studies was widely praised for helping to apply theoretical concepts to real-world scenarios. While it provides a solid foundation for navigating wealth management later in life, some reviewers suggest it serves better as an introduction, implying that more experienced learners or those seeking deep dives might need supplemental resources. Overall, it's considered a valuable resource for managing wealth with age.
Excellent introduction, not deep dive.
"Provides a solid foundation in financial planning and alternative assets."
"This course is great if you're new to these topics, but maybe too basic for experts."
"While comprehensive, I felt I needed more resources for practical implementation post-course."
Practical examples aid understanding.
"The case studies were fantastic for seeing how the theories apply in practice."
"Learning through the case studies made the material much more engaging and understandable."
"Case studies helped solidify my grasp of wealth building strategies across different scenarios."
Good introduction to non-traditional assets.
"Gave me a much better understanding of alternative investments like private markets and real estate."
"The module on alternative investments was eye-opening and explained complex concepts clearly."
"Covers non-traditional investments well, though not in exhaustive detail."
Practical advice for later-life finance.
"This course is incredibly relevant for anyone thinking about retirement and managing wealth as they get older."
"I found the content on financial planning as we age directly applicable to my own situation..."
"Provides useful strategies for navigating financial decisions in your 40s and 50s."
Pace may be fast for beginners.
"If you don't have a finance background, the initial modules might feel a bit fast."
"Needed to rewatch lectures to fully grasp some concepts due to the pace."
"Requires some prior familiarity with finance concepts to keep up easily."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Alternative Investments As We Age: Building Wealth with these
activities:
Review Investment Theories
Show steps
Reinforce your understanding of fundamental investment theories to better grasp the course's advanced concepts.
Show steps
-
Review notes from previous finance or economics courses.
-
Read articles summarizing key investment theories like Modern Portfolio Theory.
-
Take a short online quiz to test your knowledge.
Read 'The Psychology of Money'
Show steps
Understand the psychological biases that affect investment decisions, a key topic in the course.
View
In This Economy?: How Money & Markets Really...
on Amazon
Show steps
-
Read the book, focusing on chapters related to risk and decision-making.
-
Reflect on how these biases might affect your own investment choices.
-
Discuss the book's concepts with classmates in the discussion forum.
Build a Retirement Savings Model
Show steps
Solidify your understanding of retirement planning by creating a financial model to project retirement savings.
Show steps
-
Choose a spreadsheet program or financial planning software.
-
Gather data on income, expenses, and investment returns.
-
Build a model to project retirement savings based on different scenarios.
-
Analyze the results and adjust your assumptions as needed.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Read 'Mastering Private Equity'
Show steps
Gain a deeper understanding of private equity, a significant component of alternative investments.
View
Mastering Private Equity: Transformation via...
on Amazon
Show steps
-
Read the book, focusing on sections relevant to the course's modules.
-
Take notes on key concepts and strategies.
-
Relate the book's content to the case studies discussed in the course.
Analyze a Case Study
Show steps
Apply the course's concepts by analyzing a real-world case study of an individual's investment portfolio and financial planning.
Show steps
-
Find a case study online or create a hypothetical one.
-
Analyze the individual's financial situation, goals, and investment choices.
-
Evaluate the effectiveness of their strategies and suggest improvements.
-
Write a report summarizing your findings and recommendations.
Create a Presentation on Alternative Investments
Show steps
Deepen your understanding of alternative investments by researching and presenting on a specific type of alternative asset.
Browse courses on
Alternative Investments
Show steps
-
Choose a specific type of alternative investment (e.g., private equity, hedge funds, real estate).
-
Research the asset class, its risks, and potential returns.
-
Create a presentation summarizing your findings.
-
Present your findings to classmates or colleagues.
Attend a Financial Planning Conference
Show steps
Expand your network and learn from industry professionals by attending a financial planning conference.
Show steps
-
Research upcoming financial planning conferences in your area.
-
Register for a conference that aligns with your interests.
-
Attend sessions and network with other attendees.
-
Follow up with contacts you made at the conference.
Review Investment Theories
Show steps
Reinforce your understanding of fundamental investment theories to better grasp the course's advanced concepts.
Show steps
Show steps
Show steps
- Review notes from previous finance or economics courses.
- Read articles summarizing key investment theories like Modern Portfolio Theory.
- Take a short online quiz to test your knowledge.
Read 'The Psychology of Money'
Show steps
Understand the psychological biases that affect investment decisions, a key topic in the course.
View
In This Economy?: How Money & Markets Really...
on Amazon
Show steps
Show steps
Show steps
- Read the book, focusing on chapters related to risk and decision-making.
- Reflect on how these biases might affect your own investment choices.
- Discuss the book's concepts with classmates in the discussion forum.
Build a Retirement Savings Model
Show steps
Solidify your understanding of retirement planning by creating a financial model to project retirement savings.
Show steps
Show steps
Show steps
- Choose a spreadsheet program or financial planning software.
- Gather data on income, expenses, and investment returns.
- Build a model to project retirement savings based on different scenarios.
- Analyze the results and adjust your assumptions as needed.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Read 'Mastering Private Equity'
Show steps
Gain a deeper understanding of private equity, a significant component of alternative investments.
View
Mastering Private Equity: Transformation via...
on Amazon
Show steps
Show steps
Show steps
- Read the book, focusing on sections relevant to the course's modules.
- Take notes on key concepts and strategies.
- Relate the book's content to the case studies discussed in the course.
Analyze a Case Study
Show steps
Apply the course's concepts by analyzing a real-world case study of an individual's investment portfolio and financial planning.
Show steps
Show steps
Show steps
- Find a case study online or create a hypothetical one.
- Analyze the individual's financial situation, goals, and investment choices.
- Evaluate the effectiveness of their strategies and suggest improvements.
- Write a report summarizing your findings and recommendations.
Create a Presentation on Alternative Investments
Show steps
Deepen your understanding of alternative investments by researching and presenting on a specific type of alternative asset.
Browse courses on
Alternative Investments
Show steps
Show steps
Show steps
- Choose a specific type of alternative investment (e.g., private equity, hedge funds, real estate).
- Research the asset class, its risks, and potential returns.
- Create a presentation summarizing your findings.
- Present your findings to classmates or colleagues.
Attend a Financial Planning Conference
Show steps
Expand your network and learn from industry professionals by attending a financial planning conference.
Show steps
Show steps
Show steps
- Research upcoming financial planning conferences in your area.
- Register for a conference that aligns with your interests.
- Attend sessions and network with other attendees.
- Follow up with contacts you made at the conference.
Career center
Learners who complete Alternative Investments As We Age: Building Wealth will develop knowledge and skills
that may be useful to these careers:
Wealth Manager
Wealth Manager
A wealth manager develops and manages investment portfolios for high-net-worth clients, which directly aligns with the course's focus on wealth building and management strategies. The course's analysis of case studies, as well as exploration of financial planning strategies and evaluating the use of alternative investments in different life stages helps build a foundation for a career as a wealth manager. The insights into considering cognitive biases is also helpful to mitigate risks when making financial decisions, which is a large part of managing wealth. This course is especially relevant due to the section on generational wealth transfer since this is a critical component in managing the wealth of multi-generational families.
Financial Planner
Financial Planner
A financial planner assists clients with developing and implementing financial plans, covering a broad range of topics, including retirement, investment, and wealth management. This closely aligns with the course's coverage of financial planning and investment strategies across the consumer lifecycle. The course's study of the long-term financial impacts of different strategies, including the use of different investment vehicles, is also a tool that a financial planner can bring to their work. The course is especially useful due to its case studies of wealth building and generational transfers given the variety of financial needs of clients and their families.
Retirement Planner
Retirement Planner
A retirement planner specializes in helping individuals prepare for retirement, including managing savings and investments. The course specifically analyzes financial strategies for those in their 40s and 50s, addressing critical aspects such as retirement savings and alternative investments as individuals approach retirement. This course is especially useful due to its exploration of case studies to understand wealth building and its analysis of financial strategies to manage wealth through preretirement. This role also requires an understanding of the impact of health on financial decisions, which is also covered in the course.
Personal Finance Advisor
Personal Finance Advisor
A personal finance advisor helps individuals manage their finances, which the course covers through its exploration of financial planning and investment strategies across the consumer lifecycle. This is a very similar job to financial advisor, which may be a good fit for those who are unsure of a more specialized focus. The course's focus on investment theories, as well as the impact of cognitive biases may help in working with a variety of clients with different needs. This course's focus on wealth building and generational wealth transfers are also helpful to those in this role.
Portfolio Manager
Portfolio Manager
A portfolio manager constructs and manages investment portfolios for clients, directly connecting with the course's themes of wealth management strategies and investment evaluation. The course explores how to evaluate investment opportunities, build wealth with alternative investment strategies, all of which are important duties for a portfolio manager. The course’s analysis of long-term wealth building, the assessment of various investment theories, and the exploration of the role of private market and non-traditional investments are beneficial to any portfolio manager. The course's coverage of cognitive biases helps with risk mitigation when making investment decisions.
Financial Advisor
Financial Advisor
A financial advisor provides guidance to clients on managing their money and investments, aligning with the course's focus on financial planning and investment strategies across the consumer lifecycle. This role requires a deep understanding of investment theories and the impact of cognitive biases on financial decisions, two topics explicitly covered in the course. The course includes analysis of case studies to understand wealth building and generational wealth transfer, which are common topics a financial advisor handles on a daily basis. The exploration of alternative investments, particularly in relation to retirement savings, directly translates to the practical knowledge needed for this career.
Financial Consultant
Financial Consultant
A financial consultant works with businesses or individuals to improve their financial strategies, which closely aligns with the course's focus on financial planning and investment strategies across different life stages. This course's exploration of investment theories and the effects of cognitive biases is particularly helpful to a financial consultant. This role also requires understanding the impact of health on financial decisions and strategies for managing wealth through pre-retirement life stages, both of which are addressed by the course. The course's use of case studies builds practical experience, which is helpful in the field.
Investment Consultant
Investment Consultant
An investment consultant advises clients on their investment portfolios, drawing on knowledge of financial planning and wealth management strategies. The analysis of investment opportunities, as well as assessment of various investment theories, provides the foundation for this role. The course’s exploration of the role of private market and alternative investments in building wealth also contributes to the skillset of an investment consultant. The course’s focus on cognitive biases also helps with making sound financial recommendations.
Estate Planning Specialist
Estate Planning Specialist
An estate planning specialist assists clients with planning for the transfer of their assets, which is directly connected to the course’s review of wealth management strategies and generational wealth transfer. Course material analyzing case studies to understand wealth building helps build a foundation for the work of an estate planning specialist. This role often involves evaluating options for wealth management, which this course covers in detail. Understanding the impact of cognitive biases, which is a focus of the course, is also important when providing advice. The course is especially beneficial due to its specific discussion of strategies for generational wealth transfer.
Financial Analyst
Financial Analyst
A financial analyst evaluates financial data to provide insights, which directly connects with the course’s focus on financial planning and investment strategies. The course’s material on investment theories and case studies is useful for a financial analyst. The assessment of the feasibility and benefits of including alternative investments, which is covered in the course, is useful for analysis that the financial analyst will perform. Analyzing the influence of cognitive biases on financial decisions, is useful in making effective financial recommendations in this career.
Investment Analyst
Investment Analyst
An investment analyst researches and evaluates investment opportunities, making this role closely aligned with the course's exploration of financial planning and investment strategies. A key aspect of this role is analyzing the effectiveness of different financial strategies, as well as assessing the feasibility and benefits of various investment types. The course’s focus on analyzing investment theories, examining cognitive biases, and delving into alternative investments, makes this a useful course to take. The case study analysis will be helpful when performing analysis in real-world professional settings. The role of an investment analyst often requires a master's degree.
Private Equity Analyst
Private Equity Analyst
A private equity analyst evaluates investment opportunities in private companies, which involves understanding non-traditional investments as covered in the course. The course’s exploration of the role of private markets and non-traditional investments in early wealth accumulation is beneficial for this career role. The role involves assessing the feasibility and benefits of including alternative investments, a skill directly practiced in the course. The course also helps increase familiarity with investment theories and the influence of cognitive biases on financial decision making, which are crucial elements in performing due diligence when evaluating a company for private equity.
Hedge Fund Analyst
Hedge Fund Analyst
A hedge fund analyst researches and analyzes investment opportunities for hedge funds, utilizing knowledge of alternative investments, which are covered in the course. The course's assessment of the feasibility and benefits of including alternative investments in building wealth makes this a particularly helpful course for this career role. As an analyst for a hedge fund, it is useful to have deep understanding of investment theories, and an ability to evaluate the effectiveness of financial strategies, both of which the course helps with. An understanding of cognitive biases, which the course also covers, helps when mitigating risk, which impacts investment decisions.
Real Estate Investment Analyst
Real Estate Investment Analyst
A real estate investment analyst evaluates real estate opportunities, often in conjunction with other investment opportunities, which is covered in the course. The course’s analysis of investment theories and its exploration of alternative investments are useful when assessing opportunities. The examination of the role of private market investments helps with analyzing real estate investments. Understanding the impact of cognitive biases aids in making sound financial recommendations. The course may be useful for this career path.
Actuary
Actuary
An actuary uses statistical methods to assess risk, which may be helped by the course's materials on financial planning and investment strategies. The course's materials on assessing various investment theories could be beneficial in this role. The course also covers the influence of cognitive biases on financial decision making, which is useful for a career in risk management. Actuaries typically need an advanced degree and professional certification. This course may be useful for a potential actuary.
For more career information including salaries, visit:
OpenCourser.com/course/sdomc4/alternative
Reading list
We've selected two books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Alternative Investments As We Age: Building Wealth.
Explores the psychological factors that influence financial decisions, which is highly relevant to the course's discussion of cognitive biases. It provides accessible insights into how emotions and beliefs impact investment behaviors. While not a traditional finance textbook, it offers valuable context for understanding why people make certain financial choices. This book adds breadth to the course by providing a behavioral perspective on investment strategies.
Provides a comprehensive overview of private equity, a key alternative investment discussed in the course. It covers various aspects of private equity, including venture capital, minority investments, and buyouts. While it may be more valuable as additional reading, it serves as a useful reference for understanding the complexities of private equity. This book adds more depth to the course by providing detailed insights into the private equity industry.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/sdomc4/alternative
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Effort
4 weeks of study, 2.5 hours/week
Level
Introductory
Via
Coursera
Institution
University of Illinois Urbana-Champaign
Instructor
Dr. Craig Lemoine
Language
English
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