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Money is important.
Money sets limits on your dreams, hinders or magnifies your happiness, and dictates the quality of your life.
And yet... They taught you next to NOTHING about how to manage it in school! The result has been a generation who has mismanaged budgets, racked up debts, defaulted on mortgages, lost investments, and failed to keep retirement plans. While a small proportion of the country has figured out how to make money work for them, most of us are part of the shrinking middle class who are losing out.
That's where Personal Financial Well Being comes in. University Instructor and former Silicon Valley Chief Financial Officer Richard Okumoto has developed this course for the Dot University to narrow the Wealth GAP and demystify personal money management.
The course applies two core techniques which Accelerates Time-to-Knowledge. Starting with a landscape view then introducing primary building blocks provides an accelerated path to connect-the-dots on how money works:
Personal Financial Well Being means having the answers to all of these questions and knowing how they interlock and work together. The course is built on the following (3) CORE Building Blocks (GAP Approach):
1. Generating Positive Cash Flow – “Understanding your money to keep more of it!”
Tools and techniques to understand your money. This includes: Personal Budgeting, Debt Management, Personal Income Taxes, and Retirement Planning (Part 1).
2. Accumulating Wealth – “Understanding Wealth; how to create it and how to hold onto it!”
Tools and techniques to understand wealth creation and retention. This includes: Determining Wealth, Investing (part 1 & 2), and Retirement Planning (Part 2).
3. Protecting What you Have – “How to conquer Financial Risk!”
Tools and techniques to understand asset protection. This includes: Insurance (part 1 & 2) and Estate Planning.
Who might benefit from this Course – Anyone who wants to remove fear from finances and master their Personal Financial Well Being.
Not for you? No problem.
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|Section 1: Generating Positive Cash Flow > Personal Budgeting|
Personal Budgeting IntroductionPreview
What Budgeting Looks Like
How to Budget: Start with a Goal
Collect Historical Data
Forecasting Income & Expenses
Managing Your Budget
|Section 2: Generating Positive Cash Flow > Debt Management|
Introduction to Debt ManagementPreview
What Debt Looks Like
Nature of Debt
Cost of Debt
Ability to Acquire Debt
Debt Management Quiz
|Section 3: Generating Positive Cash Flow > Personal Income Taxes|
Introduction to Personal Income Taxes
What Personal Taxes Look Like
Tax Rules (IRC)
Tax Reduction Variables
Personal Tax Quiz
|Section 4: Generating Positive Cash Flow > Retirement Planning Part 1|
Introduction to Retirement Planning
What Retirement-Part 1 Looks Like
Social Security & Medicare
Other Cash Generators
Defined Benefit Plan-Pension
Retirement Planning-Part 1 Recap
Retirement Planning Part 1 Quiz
|Section 5: Accumulating Wealth > Determining Wealth|
Introduction to Determining Wealth
What Wealth Looks Like
What are Assets
What is Asset Appreciation
What is Debt
Determining Wealth Recap
Personal Wealth Quiz
|Section 6: Accumulating Wealth > Basic Investing|
Introduction to Basic Investing
What Basic Investing Looks Like
Cash & Cash Equivalent Investment
Mutual Fund Investments
Basic Investing Recap
Basic Investing Quiz
|Section 7: Accumulating Wealth > Advanced Investing|
Introduction to Advanced Investing
Higher Risk Investing
Real Estate Investing
Modern Portfolio Theory
Financial Service Professionals
Advanced Investing Recap
Advanced Investing Quiz
|Section 8: Accumulating Wealth > Retirement Planning Part 2|
Introduction to Retirement-Part 2
What Retirement-Part 2 Looks Like
Personal After-Tax Savings
Personal Tax-Deferred Savings
Employer Tax-Deferred Savings
Retirement-Part 2 Recap
Retirement Part 2 Quiz
|Section 9: Protecting What You Have > Insurance Part 1|
Introduction to Insurance-Part 1Preview
Dealing with Risk
Personal Risk - Health Care
Personal Risk - If Bad Things Happen
Insurance-Part 1 Recap
Insurance Part 1 Quiz
|Section 10: Protecting What You Have > Insurance Part 2|
Introduction to Insurance-Part 2
Personal Liability Insurance
Insurance-Part 2 Recap
Insurance Part 2 Quiz
|Section 11: Protecting What You Have > Estate Planning|
Introduction to Estate Planning
Estate Planning Process
Powers of Appointment
Gift & Estate Taxes
Estate Planning Team
Estate Planning Recap
Estate Planning Quiz
|Section 12: Tool Box Calculators|
|Lecture 70||6 pages|
Compounding Explanation & Calculations
Richard has 9 years of university teaching experience. Richard is currently on faculty with San Jose State University teaching in both the Lucas Graduate School of Business MBA Program and the Lucas College of Business. He teaches the Capstone MBA course in Strategic Thinking, MBA classes applying technology to business, and an undergraduate large format online course in personal finance. Richard is also on faculty with California State University at Long Beach teaching in the College of Business Administration. There he teaches the Capstone undergraduate business course on Business Strategy & Policy, undergraduate courses on General Management, an MBA course covering International Business, and the Capstone MBA course in Strategic Analysis. Richard is also on faculty at the Keck Graduate Institute (part of the seven university Claremont Consortium). There he teaches the Bioscience Business Strategy course to graduate and post-doc students.
Richard is also the Administrative Director for the 53 year old International Collegiate Business Strategy Competition (ICBSC) where Universities from around the world compete virtually and face-to-face. The competition is a training ground for our 21st century leaders. California State University at Long Beach is the current host of the ICBSC.
Richard has over 30 years of experience in the Silicon Valley where he held such positions as: CEO, CFO, and Division GM for several publicly-traded and private technology companies. He has served and currently serves as a public, private, and non-profit Board member. He has served and currently serves as the Chairman of the Audit Committee for these companies. He was a Whistleblower CFO in a public company under the Sarbanes/Oxley Act of 2002 - chronicled in a Harvard Business Review (HBR) case study. He is qualified as an Independent Director & Certified Financial Expert.
Richard holds a BS Degree in Accounting from San Jose State University, where he also attended the MBA program, holds an MA Degree from Gonzaga University in Communications, and is currently a PhD student in the Information Science department at Queensland University of Technology. Richard holds the Personal Financial Planning Registered Financial Consultant designation RFC® from the IARFC.