degrees from the University of Arizona and his M.B.A. Joehnk spent a year as a visiting professor of finance at the University of Otago in New Zealand. In addition to his academic appointments at ASU, Dr. Joehnk is an emeritus professor of finance at Arizona State University. He has two grown children and lives with his wife in La Jolla, California, where he is an avid cyclist. 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. In addition, he is a Certified Financial Planner (CFP). 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. An active member of numerous professional organizations, Dr. 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. He has authored and coauthored numerous best-selling textbooks on various finance and business topics as well as investing. Gitman is a prolific author who 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 received his BA from Purdue University, MBA from the University of Dayton, and PhD from the University of Cincinnati. Gitman is an emeritus professor of finance at San Diego State University. You don’t have to be wealthy, old, married, or a parent to need an estate plan, which also lays out who makes financial and health care decisions for you if you can’t make them yourself.Dr. To reach your mid- and long-term goals, take your savings strategy and put an engine behind it. A resource like the Principal ® Retirement Wellness Planner may be a good place to start. Plan for retirement.Įven if it’s a long way off, think about what you want your money to do for you when you retire, and create a plan to make it happen. Use our disability and life insurance worksheet (PDF) to log your coverage and identify any gaps. People with a good financial plan hope for the best, but plan for the unexpected. Use our debt management worksheet (PDF) to log your numbers and find the right balance. Understanding and managing debt is a key part of creating a financial plan. Our quiz will help you decide when to use these savings. That’s where an emergency fund comes in handy. Build an emergency fund.Īll the planning in the world won’t help if life throws you a curveball and you’re not prepared financially. Our tax planning worksheet (PDF) will help you think through potential income tax credits and deductions. It can go a long way toward helping you keep more of your money next year. Think it through using our financial goals worksheet (PDF). It’s always good to have a clear idea of why you’re saving your hard-earned money. (Or just tackle the whole thing on a long, rainy weekend with a big pot of coffee and a dog at your feet.) It’s OK if you’ve already started a few of these steps. In nine steps, you have a nice framework to build on throughout your life. From the groceries you need, to the retirement you want, and the car repair bill that’s looming, these ideas help you balance long-term dreams with short-term wants, plus those unexpected events that happen along the way. They take you step-by-step through what you need to know to create a personal financial plan and help get your money in order. Smart financial planning follows the same logic. Your wedding, for example, followed a timeline, a budget-even if you busted it with that last-minute table for extended family-and involved compromise and conversation. When it comes to life's biggest moments, you probably had a plan.
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