New concepts and Their Impact on My Career

Newconcepts and Their Impact on My Career

Newconcepts and Their Impact on My Career

Question1: Concepts learned

In today’s world, it is imperative to make financial decisions thatcontribute to one’s wellbeing. Moreover, personal finance hasbecome an intricate conception in the contemporary world such thatpeople have to strike a balance between savings and investments. Thecourse has introduced some fundamental concepts such as interestcompounding, risk of diversification, and return on investment.Interest compounding is an important concept in financing, whichimparts knowledge on investment, savings, and borrowing decisions.Risk diversification is the foundation of portfolio choice and itinvolves the broadening of investment decisions and values whilereturn on investment entails the gains that one gets from aninvestment. The three concepts impact my personal finance and careergreatly as I understand the decisions that I need to make to managemy finances properly. Moreover, I can now distinguish betweendifferent market values, understand inflation better, as well as,understand how to forecast risks and gains on an investment.

Question2: Staying atop of the topics covered

Today, information has become the most indispensable aspect in lifeespecially in the financial markets. Thus, it is critical for anybusiness-minded person to obtain as much supportive information asprobable. Shapiro and Varian (2013) assert that the easiest method toobtain important and helpful information is through reading andpracticing what one reads. As such, I understand that for me to stayatop of the concepts I have learned in the course, I will need toread financial magazines, newspapers, books, and journal articlesextensively, as well as, utilize the internet. Moreover, I will readfinancial statements from companies to see how they report data anduse the information available. I will need to apply what I read anddeduce as worth in financial decisions and in advancing my career.

Reference

Shapiro, C., &amp Varian, H. R. (2013).&nbspInformation rules: astrategic guide to the network economy. Harvard Business Press.