Strategic financial planning over the lifecycle

the long version

"This book on personal financial planning and wealth management employs the lifecycle model of financial economics. The central idea of 'consumption smoothing' is used to connect chapters and topics such as saving and investment, debt management, risk management and retirement planning. The first part of the book is nontechnical and aimed at a wide audience with no special technical background. The second part of the book provides a rigorous presentation of the lifecycle model from first principles using the calculus of variations. The accompanying website is found at http://www.yorku.ca/milevsky/?page_id=185"-- "This book project grew out of the deep frustration two of the three authors have experienced for many years, trying to teach a practical yet rigorous course on personal - in contrast to corporate or investment - .nance, to undergraduate and graduate students at Canadian business schools. Although there are many college level textbooks that discuss the tactical aspects of personal .nance - nuggets such as: credit card debt is bad, reduce fees on mutual funds, regular saving is important, have a budget, etc. - we have not come across a textbook that integrated all these disparate concepts into a conceptual or strategic framework for financial decision-making, based on sound economic principles"--