Graduation Year
2016
Date of Submission
11-2015
Document Type
Open Access Senior Thesis
Degree Name
Bachelor of Arts
Department
Economics-Accounting
Reader 1
Marc Massoud
Reader 2
Peter Uvin
Terms of Use & License Information
Rights Information
© 2015 Nicholas M. Lund
Abstract
Socioeconomic changes in American society over the past few decades, as well as an overwhelming amount of uncertainty and misconceptions, have resulted in a majority of Americans to fall short of their financial goals in the short-term, the mid-term, and the long-term. Without proper preparation and financial planning, it is likely that these Americans, and many more, will be unable to reach these goals as well as retire comfortably. Many Americans are overwhelmed with the immense amount of financial information, tools and resources, and as a consequence are unable to plan their finances efficiently and effectively. Americans need a better understanding as to which financial tools are most relevant to their goals, and the proper procedure to initiate a comprehensive financial plan for themselves. Understanding the benefits and drawbacks to each of the components of a comprehensive financial plan, and how they relate and complement each other, of a financial plan will greatly improve the numbers of Americans who are easing their way to a more financially predictable future.
Recommended Citation
Lund, Nicholas M., "The Benefits of Having a Comprehensive Financial Plan for the Average Consumer, And the Necessary Components Comprised to Make an Effective and Efficient Plan" (2016). CMC Senior Theses. 1220.
https://scholarship.claremont.edu/cmc_theses/1220
Included in
Corporate Finance Commons, Finance and Financial Management Commons, Insurance Commons, Taxation Commons
