Finance for Academics: A Guide to Investment for Income (SpringerBriefs in Finance) - Softcover

Francisco, Ronald A.

Softcover

ISBN 10: 146143243X ISBN 13: 9781461432432

Publisher: Springer, 2012

Synopsis

​The purpose of this book is to provide a hands-on guide to finance and investment for academics with an objective of providing strategies to maximize income, minimize fees, and legally minimize taxes. There are many risks in finance and investment such as stock market crashes, inflation, corruption, fees and interest rates. This book stresses that stocks and bonds are the mainstay of most investors. Dividend-growth stocks mitigate the risk of inflation. In addition, they cost nothing once they are purchased, unlike mutual funds that have constant fees. The author explains how to find dividend-growth stocks whose payout increase exceeds inflation and how to compound quarterly in order to make projections for future growth in the number of shares or in the value of the capital itself. The author, in addition, discusses the value of bond funds and master-limited partnerships for an investment portfolio. Retirement income is a major concern for senior academics and the median level of retirement savings for those 55 to 64 is only $145,000, which is insufficient. The author stresses the need to mix dividend-growth stocks and closed-end bond funds to fund retirement as well as explains Roth IRAs, 401(k)s and other such tax-free forms of retirement financing. Finally, the book examines financial risks and shows how to mitigate them to the extent possible. This book is a must-have for any professor or academic approaching retirement age or looking to secure their future income.​

About this title

About the Author

Ronald A. Francisco is Professor of Political Science at the University of Kansas. For eight years he has also been the author of highly-downloaded guide on finance and investment for income, 'Finance for Academics', which introduces necessary facts and concepts of finance to the academic world.

From the Back Cover

Where will your income come from after you no longer teach, research or perform service? You may have heard about private firms reducing their pension benefits. From 1983 to 2007, corporate pensions fell from 62 percent of the workforce to 17 percent. Since then pensions have almost disappeared or been frozen. Of the 44 million workers with retirement accounts, fewer than half still accrue benefits. The pensions that have been cut are defined-benefit pensions.Most academics have never had the luxury (yes, luxury) of a defined-benefit pension, where other people contribute to one 's retirement income. We and 70% of the private workforce have defined-contribution retirement benefits, which means that one relies almost entirely on one 's own savings and investment. Our retirement benefits rest on the foundation of the capital that is contributed throughout an employee 's working life. What many academics do not understand is that they must contribute capital themselves if they wish to secure a comfortable life and retirement. You will live on what you accumulate, albeit with a little help from the university and defined-benefit social security.

Edition details

• Publisher: Springer
• Publication date: 2012
• Language: English
• ISBN 10: 146143243X
• ISBN 13: 9781461432432
• Binding: Paperback
• Number of pages: 142