The Personal Finance and Wealth Management Masterclass from Udemy

What's inside

Learning objectives

You will become an expert in personal finance and development.
100+ multiple choice questions with detailed explanations and answers.
You will become an expert on financial data sources and patterns.
You will understand how auto insurance premiums are calculated.
You will learn why vicarious liability is important in personal finance.

You will learn what career paths people are choosing after the pandemic.
You will learn why some people never run out of money in retirement.
You will learn the differences between different types of banks.
You will learn how financial decisions made in london affected consumers in the united states.
You will gain numerous insights even if you have taken personal finance courses before.

You will become an expert in personal finance and development.
100+ multiple choice questions with detailed explanations and answers.
You will become an expert on financial data sources and patterns.
You will understand how auto insurance premiums are calculated.
You will learn why vicarious liability is important in personal finance.
You will learn what career paths people are choosing after the pandemic.
You will learn why some people never run out of money in retirement.
You will learn the differences between different types of banks.
You will learn how financial decisions made in london affected consumers in the united states.
You will gain numerous insights even if you have taken personal finance courses before.

Syllabus

Introduction and Wealth Accumulation

Course Introduction Video - About this Course

Course Introduction Video - Topics to be Covered

In this Video, we will discuss all the Course Materials and Resources that we will be using in this Course.

This Lecture Video is an introduction to the Wealth Accumulation Section.

After viewing this Lecture Video, you will understand various paths especially after the Pandemic.

In this Lecture we will examine Earnings by College Major and Educational Attainment.

After viewing this Lecture Video, you will learn how salaries vary by occupation. You will also learn about the fastest growing occupations and the fastest declining occupations.

In this Lecture we will discuss and categorize skills in general.

In this Lecture we will continue to discuss and categorize skills.

In this Lecture, we will discuss your specific competencies and interests.

In this Lecture we will review College and College Alternatives further.

In this Lecture we will review Certifications.

This is an introduction video to Personal Balance Sheets.

After viewing this Lecture Video, you will be able to construct Personal Balance Sheets.

After viewing this Lecture Video, you will be able to explain where someone stands financially compared to the rest of the population. You will also be able to teach others about the differences.

This is an introduction Video to Human Capital.

After viewing this Lecture Video, you will be able to calculate Human Capital.

After viewing this Lecture Video, you will be able to explain how one goes about increasing human capital.

After viewing this Lecture Video, you will be able to explain how human capital numbers for those who died in the September 11, 2001 attacks were calculated.

This is an introduction Video to Personal Balance Sheet examples.

After viewing this Lecture Video, you will be able to explain how those with very high student loans are managing their debt.

After viewing this Lecture Video, you will be able to explain how some spouses lose out in a divorce.

After viewing this Lecture Video, you will be able to explain what not to do, if you are deep in credit card debt.

After viewing this Lecture Video, you will be able to explain what some married couples are doing to secure their retirement.

In the Video, we reflect on what we have covered and what is forthcoming.

This Quiz covers topics we examined in the Wealth Accumulation section.

This is an introduction video to the Financial Planning section.

After viewing this Lecture Video, you will be able to value businesses and make a decision whether or not to purchase.

After viewing this Lecture Video, you will be able to perform calculations in Excel.

After viewing this Lecture Video, you will be able to solve Time Value of Money Problems in Excel.

After viewing this Lecture Video, you will be able to model Lifetime Expenditures for individuals.

After viewing this Lecture Video, you will Understand how we calculated Human Capital in Previous Lectures

After viewing this Lecture Video, you will be able to calculate the Interest and Principal Components of each Mortgage Payment.

After viewing this Lecture Video, you will be able to calculate the Present Value of Future Annuity Payments.

This is an Introduction Video to the Household Budget Lectures.

After viewing this Lecture Video, you will understand how Households budget and spend money.

After viewing this Lecture, you will understand how Households in Select Countries budget and spend money.

This is an introduction video to the Lectures on Financial Tools.

After viewing this Lecture Video, you will be able to explain Deposit Insurance. You will also be able to name Banks that have failed recently.

After viewing this Lecture Video, you will be able to discuss how Americans are investing.

After viewing this Lecture Video, you will be able to explain the differences between different types of retirement plans. You will also be able to look up ratings for 401k plans.

After viewing this Lecture Video, you will be able to discuss why 529 plans from certain states have more assets than 529 plans in other states.

After viewing this Lecture Video, you will be able to discuss Deposit Insurance worldwide. You will also be able to discuss Financial Planning Tools in Select Countries.

After viewing this Lecture Video, you will be able to discuss the roles of Private Banking Groups and Family Offices

This Quiz covers Topics we examined in the Financial Planning section.

This is an introduction video to the Lectures in the Asset Allocation section.

After viewing this Lecture Video, you will be able to discuss Asset Classes in a comprehensive way.

After viewing this Lecture Video, you will be able to calculate NPV. You will also be able to explain why companies should reject negative NPV Projects.

After viewing this Lecture Video, you will be able to classify companies according to Market Cap.

After viewing this Lecture Video, you will become familiar with a major source of economic and stock market data.

After viewing this Lecture Video, you will be able to analyze Stock Returns. You will be able to discuss the differences in the magnitudes of Price Returns versus Total Returns.

After viewing this Lecture Video, you will be able to analyze stocks using the Dividend Discount Model.

In this Lecture Video, we will apply the Dividend Discount Model to the ADP Stock. We will calculate forward looking Price and Total Returns based on certain assumptions. You will be able to replicate the analysis for any stock of your choosing.

After viewing this Lecture Video, you will be able to explain the differences between Financial Markets and Financial Institutions.

After viewing this Lecture Video, you will be able to explain the differences between Mutual Funds, Closed-End Funds and ETFs. You will also understand the role of ADRs.

After viewing this Lecture, you will be able to explain the Initial Public Offering Process step by step.

After viewing this Lecture Video, you will learn how stocks are shorted.

After viewing this Lecture Video, you will learn why most videos on short selling fail to explain the process.

In this Lecture, we will examine how certain hedge fund managers lost billions of dollars Shorting GameStop.

After viewing this Lecture Video, you will be able to explain the different ways by which you can invest in Bonds. You will also learn about historical returns bonds have generated.

After viewing this Lecture, you will be able to explain the different ways by which you can invest in Venture Capital and Private Equity. You will also learn about historical Venture Capital and Private Equity Returns.

After viewing this Lecture Video, you will be able to explain the different ways by which you can invest in Real Estate. You will also learn about historical Real Estate Returns.

After viewing this Lecture Video, you will be able to explain the different ways by which you can invest in Commodities. You will also learn about historical returns from holding commodities.

After viewing this Lecture Video, you will be able to explain the process of hedge fund investing. You will also learn about historical returns to hedge funds.

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Explores the calculation of human capital, which is a concept often used in economics and financial planning to assess the economic value of an individual's skills and knowledge

Examines various risk management tools, which are essential for protecting wealth and mitigating potential financial losses due to unforeseen circumstances

Includes quizzes on topics such as personal balance sheets, consumer assets and liabilities, and human capital, which reinforces learning and assesses comprehension

Covers the LIBOR scandal, which is an important case study in financial ethics and regulation, providing insights into the complexities of the financial industry

Requires learners to perform calculations in Excel, which may pose a barrier to entry for those without prior experience using spreadsheet software and data analysis tools

Examines the short selling process, which is a complex investment strategy that carries significant risk and may not be suitable for all investors

Reviews summary

Personal finance and wealth management fundamentals

According to students, this masterclass provides a comprehensive and practical introduction covering key aspects of personal finance, from building wealth and planning finances to understanding investments and risk. Learners particularly appreciate the structured approach and the inclusion of practical tools and examples, such as calculating Net Worth and Human Capital. While the course touches upon a broad range of topics, some wish for deeper dives into specific investment strategies or risk management tools. Overall, it is considered a strong foundation for managing personal finances effectively.

Instructor brings valuable perspective and examples.

"The instructor's real-world examples and insights were very valuable."

"Appreciated the discussions on historical events like the LIBOR scandal and GameStop."

"The explanations of concepts like Human Capital and Time Value of Money were very clear."

"Instructor's experience shines through, providing practical context."

Well-organized content delivery with helpful checks.

"The lecture videos are clear and easy to follow, breaking down complex ideas."

"I found the quizzes after each section very helpful for reinforcing what I learned."

"The structure of the course flows logically from one topic to the next."

"Quizzes and assignments helped solidify the material and test understanding."

Builds a strong understanding of core concepts.

"It gave me a really strong foundation in personal finance principles."

"Even with some prior knowledge, I gained numerous insights and solidified my understanding."

"Excellent for beginners looking to get a solid grasp of the fundamentals."

"The course lays a robust groundwork before diving into more complex areas."

Provides actionable tools and strategies for daily life.

"I can immediately apply concepts like building a personal balance sheet and calculating net worth."

"The examples on budgeting and lifetime expenditures were incredibly practical for my own financial planning."

"Learning how to use Excel for time value of money problems is a skill I can use immediately."

"The tools and strategies taught here are directly applicable to managing my own money better."

Covers many personal finance areas comprehensively.

"The course covers everything from budgeting and saving to investing and estate planning. Truly a comprehensive view."

"It touches on so many different areas of wealth management, giving a solid overview of the landscape."

"I appreciated the breadth of topics covered, offering a well-rounded perspective on personal finance."

"Learned about a wide array of concepts - financial planning, asset allocation, risk management, etc."

Some advanced topics could benefit from more depth.

"While broad, I wished some investment strategies like options or futures were covered in more detail."

"Risk management concepts were introduced, but a deeper dive into specific tools or scenarios would be beneficial."

"Could use more in-depth coverage on complex topics or optimization techniques."

"Some sections felt a bit rushed, leaving me wanting more detail on certain asset classes."

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 The Personal Finance and Wealth Management Masterclass with these activities:

Review Time Value of Money Concepts

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Reinforce your understanding of Time Value of Money concepts, which are crucial for financial planning and investment decisions covered in the course.

Browse courses on Time Value of Money

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Review the formulas for present value and future value.
Work through practice problems involving different compounding frequencies.
Use an online calculator to verify your calculations.

Read 'The Total Money Makeover' by Dave Ramsey

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Gain practical insights into debt management and wealth building strategies to complement the course's theoretical framework.

View Build a Business You Love: Mastering the Five... on Amazon

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Read the book and take notes on key concepts.
Identify actionable steps you can implement in your own financial life.
Discuss the book's principles with a friend or family member.

Create a Personal Financial Plan

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Apply the concepts learned in the course to develop a comprehensive financial plan tailored to your own circumstances.

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Assess your current financial situation, including assets, liabilities, income, and expenses.
Set financial goals, such as retirement planning, buying a home, or paying off debt.
Develop a budget and savings plan to achieve your goals.
Research investment options and create an asset allocation strategy.
Review and revise your plan regularly.

Four other activities

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Show all seven activities

Write a Blog Post on a Personal Finance Topic

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Solidify your understanding of a specific personal finance topic by researching and explaining it in a blog post.

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Choose a personal finance topic that interests you.
Research the topic thoroughly using reliable sources.
Write a clear and concise blog post explaining the topic.
Include examples and actionable advice for readers.
Proofread and edit your post before publishing it.

Calculate Net Worth Scenarios

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Reinforce your understanding of net worth calculation by working through various scenarios with different asset and liability combinations.

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Create a spreadsheet with different asset and liability categories.
Populate the spreadsheet with sample data for different individuals or households.
Calculate the net worth for each scenario.
Analyze the results and identify factors that contribute to higher or lower net worth.

Read 'The Psychology of Money' by Morgan Housel

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Understand the psychological factors that influence financial decisions and develop a more rational approach to wealth management.

View In This Economy?: How Money & Markets Really... on Amazon

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Read the book and reflect on the key lessons.
Identify your own biases and emotional triggers related to money.
Apply the book's principles to your own financial planning.

Build a Retirement Calculator

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Create a retirement calculator using spreadsheet software to project future retirement income and expenses.

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Gather data on your current income, expenses, and savings.
Research different retirement planning assumptions, such as inflation rates and investment returns.
Build a spreadsheet model that projects your future retirement income and expenses.
Incorporate different scenarios, such as early retirement or unexpected expenses.
Test and refine your calculator to ensure accuracy.

Career center

Learners who complete The Personal Finance and Wealth Management Masterclass will develop knowledge and skills that may be useful to these careers:

Financial Planner

Financial planners work with individuals and families to develop comprehensive financial plans that address their short term and long term goals. The Personal Finance and Wealth Management Masterclass can help you get started toward becoming a financial planner. The course introduces various paths to wealth accumulation and covers topics such as calculating human capital and addressing personal balance sheets. The course also covers time value of money. The course is useful as it provides a foundational understanding of financial planning principles and investment strategies.

See salaries and explore the career path for Financial Planner

Wealth Manager

A wealth manager helps high net worth individuals and families manage their assets and achieve their financial goals. The Personal Finance and Wealth Management Masterclass can serve as a launchpad for prospective wealth managers. The course examines the process of wealth accumulation and preservation, along with prudent investing. Wealth managers require knowledge about how households invest money, historical returns for equities, bonds, private equity, real estate, commodities, and hedge funds. The course also covers short selling, risk management, and estate planning, all of which are valuable in building the skills required to be a wealth manager.

See salaries and explore the career path for Wealth Manager

Personal Finance Consultant

As a personal finance consultant, your advice helps individuals manage their money, budget, save, and invest effectively. The Personal Finance and Wealth Management Masterclass may be particularly beneficial for those interested in becoming personal finance consultants. The course introduces fundamental concepts of wealth management, like developing personal balance sheets and calculating net worth. The course also covers estimating lifetime expenditures and understanding the time value of money, which is essential for providing sound advice. You should also take this course to gain insights into wealth accumulation, investment strategies, and risk management.

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Financial Advisor

A financial advisor guides clients in making informed decisions about their money. The Personal Finance and Wealth Management Masterclass may be useful for prospective financial advisors. The course helps build a foundation in wealth management, covering topics such as personal balance sheets, net worth calculation, and human capital estimation. Understanding lifetime expenditures and the time value of money, which is covered in the course, is crucial for effective financial planning. The course also examines how households invest, historical returns for various asset classes, and risk management tools. Aspiring financial advisors can also learn about estate planning.

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Private Banker

Private bankers provide financial services and wealth management solutions to high net worth individuals and families. The Personal Finance and Wealth Management Masterclass can help those interested in becoming private bankers. This course covers personal balance sheets, net worth calculation, and human capital estimation. The course also discusses how households invest money and the roles of private banking groups and family offices, providing valuable insights for this career path.

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Retirement Planner

Retirement planners specialize in helping individuals plan for their retirement. The Personal Finance and Wealth Management Masterclass can help prospective retirement planners. The course provides a useful introduction to the fundamental concepts of wealth management, including estimating lifetime expenditures, understanding the time value of money, and examining different types of retirement plans. This course will be very useful as it also covers investments to help one become more informed as a retirement planner.

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Portfolio Manager

Portfolio managers construct and manage investment portfolios to meet specific financial goals for clients. The Personal Finance and Wealth Management Masterclass can help build a foundation for prospective portfolio managers. The course will be useful because it covers the historical returns for equities, bonds, private equity, real estate, commodities, and hedge funds. Understanding geometric averages for portfolio management, as covered in the course, is essential. The course also examines risk management tools, short selling and asset allocation, all of which are relevant to the work required of portfolio managers.

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Estate Planner

Estate planners help clients develop strategies for managing and distributing their assets after their death. The Personal Finance and Wealth Management Masterclass will be helpful for someone seeking to become an estate planner. The course covers estate planning and can help someone considering this career path. The syllabus also covers risk management, which is useful to those who are estate planners. Estate planners require deep knowledge of estate planning.

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Risk Manager

Risk managers identify, assess, and mitigate risks that could affect an organization's financial performance. The Personal Finance and Wealth Management Masterclass can help those who want to become risk managers. The syllabus covers robust risk management and also estate planning, This course can help prospective risk managers because the career path has an element of personal finance, so it is useful for anyone considering personal finance as a career path. The course covers many types of risks that individuals may face.

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Investment Analyst

An investment analyst researches and analyzes investment opportunities for financial institutions or individual investors. The Personal Finance and Wealth Management Masterclass may be useful for someone who wants to work as an investment analyst. The course covers topics about historical returns for equities, bonds, private equity, real estate, commodities, and hedge funds. The syllabus dives into asset allocation, net present value calculation, dividend discount models, and investing in various asset classes. A major part of this role is about the risks involved, and this is covered in the course as well.

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Hedge Fund Analyst

Hedge fund analysts conduct in depth research and analysis of investment strategies, markets, and individual securities to support hedge fund investment decisions. The Personal Finance and Wealth Management Masterclass may provide value to prospective hedge fund analysts. The course covers topics like historical returns for various asset classes, including hedge funds, and the short selling process. The course also examines risk management, which is useful in this role. The syllabus tackles investing in hedge funds directly.

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Financial Examiner

Financial examiners ensure that financial institutions comply with regulations and laws. While an advanced degree is often required, the Personal Finance and Wealth Management Masterclass can help you get started. Regulators play a large role in this field, and this course does cover the role of regulators in the United States and around the world. Additionally, it examines the LIBOR Scandal. Financial examiners need a foundational understanding of wealth management.

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Budget Analyst

Budget analysts are responsible for helping organizations manage their finances by developing and monitoring budgets. The Personal Finance and Wealth Management Masterclass can help those who want to become budget analysts. The course includes specific modules on budgets for both high and low income households which can be useful in the role. The course also covers lifetime expenditures which can be useful for making good budget decisions. Budget analysts need an understanding of wealth management and the course will be helpful for this.

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Financial Controller

Financial controllers oversee the financial reporting and accounting operations of a company or organization. The Personal Finance and Wealth Management Masterclass may be helpful to prospective financial controllers. The course covers the basics of personal balance sheets, including assets and liabilities. This course provides a foundation for understanding financial statements. The role requires an understanding of how money is allocated, and this course will be helpful for financial controllers.

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Credit Analyst

Credit analysts assess the creditworthiness of individuals or businesses to determine the risk of lending money or providing credit. The Personal Finance and Wealth Management Masterclass may be valuable to prospective credit analysts. The course will be helpful because it discusses personal balance sheets, consumer assets and liabilities. The course also covers risk management tools. This course will give prospective credit analysts a basic background in wealth management.

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The Personal Finance and Wealth Management Masterclass

What's inside

Learning objectives

Syllabus

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Reviews summary

Personal finance and wealth management fundamentals

Activities

Career center

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