personal finances Essays - Economy, Finance, Money, Personal Finance

1 - Financial Position: this area is concerned with understanding the personal resources available by examining net worth and household cash flow. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flow totals up all the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. 2 - Adequate Protection: the analysis of how to protect a household from unforeseen risks. These risks can be divided into liability, property, death, disability, health and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract. Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals, athletes and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance also enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. 3 - Tax Planning: typically the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax. Typically, as your income grows, you pay a higher marginal rate of tax. Understanding how to take advantage of the myriad tax breaks when planning your personal finances can make a significant impact upon your success. 4 - Investment and Accumulation Goals: planning how to accumulate enough money to acquire items with a high price is what most people consider to be financial planning. The major reasons to accumulate assets is for the following: a - purchasing a house b - purchasing a car c - starting a business d - paying for education expenses e - accumulating money for retirement, to generate a stream of income to cover lifestyle expenses. Achieving these goals requires projecting what they will cost, and when you need to withdraw funds. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which typically will subject the portfolio to a number of risks. Managing these portfolio risks is most often accomplished using asset allocation, which seeks to diversify investment risk and opportunity. This asset allocation will prescribe a percentage allocation to be invested in stocks, bonds, cash and alternative investments. The allocation should also take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. 5 - Retirement Planning: retirement planning is the process of understanding how much it costs to live at retirement, and coming up with a plan to distribute assets to meet any income shortfall. can leave your assets to family, friends or charitable groups.

Divine Healing Essay Example

Divine Healing Essay Example Divine Healing Essay Divine Healing Essay 1. How many of our iniquities (sins) did God promise to forgive? Psalms 103:3 _____________________________________________________________________________________ A. How many of our diseases did He say He could heal? ______________________________________ 2. How do I know Christ paid for my healing? Isaiah 53:5 __________________________________________________________________________ 3. When Jesus was here, what sicknesses did He heal? Matthew 4:23 _____________________________________________________________________________________ 4. Has Jesus changed? Hebrews 13:8 _____________________________________________________________________________________ ____________________________________________________________________________________ 5. If Jesus is our High Priest, how do we know He understands our sufferings? Hebrews 4:15 (He is) _______________________________________________________________________________ 6. How did He heal people in their time of need? Psalms 107:20 _____________________________________________________________________________________ 7. What way must we pray in order to receive healing? A. Matthew 21:22 _____________________________________________________________________ B. Mark 11:24 _____________________________________________________ and ye shall have them. 8. How must we pray in order for God to answer? A. John 14:13 _________________________________________________________________________ __________________________________________________________________________________ B. Acts 3:16 __________________________________________________________________________ _________________________________________________________________________________ 9. What is God’s promise to every believer? Mark 16:15-20 A. Verse 17 __________________________________________________________________________ _________________________________________________________________________________ B. Verse 18 __________________________________________________________________________ 10. What does James tell us to do when we’re sick? James 5:14 ____________________________________________________________________________________ ____________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ A. What will be the results? James 5:15 ________________________________________________________________________________ ________________________________________________________________________________ 11. How do we know our sickness was paid for at the whipping post? 1 Peter 2:24 ____________________________________________________________________________________ 12. How do we know it is God’s will for us to be well? 3 John 2 ____________________________________________________________________________________ ____________________________________________________________________________________ ___________________________________________________________________________________ 13. In order to receive healing, how must I come to the Lord? Hebrews 11:6 ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ __________________________________________________________________________