Personal Finance: Invest, Loans, Stocks,Insurance, Inflation
What you'll learn
- Building a necessity based decision framework for personal finance
- Estimate the balance between loans, income, saving and investment based on 3-5 year horizon.
- Differentiate between the noise and information in financial advice and advertisements reaching them.
- A foundation to build concrete Plan A and Plan B for next five years without relying on any ponzy schemes.
- A solid decision framework to identify the need for an expert and reaching out to them after thorough research and specific questions.
- No special understanding of financial instruments is needed.
- Awareness about daily finance operations is enough.
Personal finance at heart is managing income, investment, insurance, and loans. Economy and finance are often discussed in the news but rarely from the perspective of an individual's student debt, home mortgage, or stock portfolio. Converting all the marketing words to knowledge is frustrating, leading to short-term decision-making.
Personal finance is about knowledge of diverse instruments like gold, cryptocurrencies, and real estate, as well as fundamentals like inflation, debt, and banking.
The main objective of this course is to create awareness about the bigger picture of the finance ecosystem. The massive diversity in regulations across countries and the financial goals of individuals makes it impossible to come up with one solution that will work for all. Hence, understanding the basics will provide a solid personal finance decision-making framework for the rest of your life.
The course uses real-life financial decisions based on my experiences from three recessions across two countries (US and India).
As a student, a framework to understand the financial factor that will allow shaping your career.
As an early-stage professional, a sound argument is to start building moats to increase the risk-taking capacity to pursue dreams.
As a sole breadwinner, a set of tools one could use to amplify their capacity without burning out.
For all, personal finance is a duty, not a choice.
Ability to ask relevant questions based on your current responsibilities at your stage of life.
What doesn't the course offer?
The course does not promote any specific investment advice or product promotion.
The course does not recommend any foolproof solution to any personal finance-related problem.
The course does not provide any stock or trading-related advice.
Section 1: Introduction to the big picture and necessity for this awareness
Section 2: An elementary definition-based overview of major financial entities that dictate our lives.
Section 3: A bird's eye view of the entire ecosystem from a commoner's perspective.
Section 4: A closer look at banks as financial institutions. Their basic models and incentives.
Section 5: A walk-through of different kinds of loans. The essential awareness about the structure of loans.
Section 6: Introduction to "markets" or ecosystem of equities and surprising ways they make their way into our lives.
Section 7: Discussion about some other instruments that are not discussed much in the context of Personal finance but are vital to a holistic understanding.
Section 8: A discussion dedicated to the hidden costs that influence growth. Insurance, taxes, management fees.
Section 9: An ordinary person's perspective on the trinity of Income, Investment, and saving. Also, a discussion about gig-economy and index funds in the context of income and investment.
Section 10: Closing remarks with personal experiences and food for thought.
Who this course is for:
- Students and early stage professionals. (18-26 years)
- Anyone interested in fundamental entities involved that affect personal finance
- Anyone starting their personal finance management journey.
I am a programmer with an MS in Electrical Engineering and 16+ years of experience in the software industry. I have held roles of principal engineer across multiple organizations, building products that serve billions.
I have designed and implemented software solutions for Digital Cinema Distribution, Distributed Systems, Embedded Systems, Map Making, Insurance, Email Servers, and Data acquisition systems for a problem in the Astrophysics domain (master's thesis).
The course(s) will help you in answering the following questions that dictate your priorities in life,
WHY are you pursuing your current profession?
How long do you WANT to pursue the current profession/job?
How long do you HAVE to pursue the current profession/job?
How long will your current profession/job RESPECT your contribution in exchange for rewards?
Remaining relevant for decades in any industry is not just hard but, in many cases, impossible. However, accepting this fact can help you plan a peaceful retired life.
There are many more variables in the equation of your peace of mind; start identifying them in these few minutes of assignments.
I find peace in exploring the connection between the "How" and "Why" of any technical problem. Over the years, I have realized that research is a lifestyle and engineering is an attitude.
The intent of all courses will be practical implementation and a long-term career perspective.
Your ideas and suggestions are always welcome.