Sections

Top Stories
Front Page
News
Student Life
Science & Environment
Arts & Entertainment

Etcetera
Opinion
People & Places
Lifestyles
Sports 
Kalamalama Archive

Information

ASHPU
HPU Clubs

Sports

Baseball
Basketball
Cross Country
Softball
Tennis
Volleyball

Hot Links
HPU

Rotaract holds success seminar

by Katja Silvera, staff writer

 

The Rotaract Club at HPU brought a celebrity to HPU April 9 for a seminar on how to succeed financially. Jennifer Du-Yung won the President’s Recognition Award from American Express Financial Advisors. “It recognizes outstanding performance and commitment to high-quality financial planning,” said the Honolulu Advertiser.

Du-Yung presented five building blocks for realizing life’s dreams: create, assess, protect, invest, and enjoy.

“To create refers to establishing what your vision is,” said Du-Yung. A vision is a statement in which you see yourself in the future, five, 10, 15 years from now. This vision is created by personal interests, hopes, and values, and it reflects the reality of one’s lifestyle. When creating a vision, she explained, we need to make sure that it represents the things that are important to us and that it will compel us do all the activities we will need to do to make it come to life.

“Write your vision down on paper,” she said. “By writing it down, you have made a statement for yourself that is easier to follow than if you just tell yourself that you have a vision.”

Next, we must assess our situation to see how close we are to our goal. It should be realistic and achievable, so we won’t be discouraged at the outset. The goal should also be appropriate, consistent with our lifestyle and expectations. We should set a deadline for its achievement in order to add urgency and motivation for its progress. By including a target, such as a dollar figure or timetable, we will measure our progress.

Protecting our vision is equally important. This can be done through various documents such as insurance policies, employee benefit data, living wills, trust agreements, and records such as banking, investment, and income tax.

We should invest in our vision. Three methods suggested by Du-Yung include, the Rule of 72, dollar-cost averaging, and diversification. The Rule of 72 calculates how fast an investment will grow and how long it will take for it to double. For example, divide the rate of return (say 8 percent) into 72. The answer: 9 years.

The Rule of 72 assumes our investments are tax deferred and earning compound interest. Through dollar-cost averaging, a fixed dollar amount is invested at regular intervals. Although this strategy does not guarantee a profit or protect against losses due to declining prices, it can be an effective means of accumulating shares. Also, by diversifying our portfolio we will spread our risk and therefore reduce the volatility of our investments.

Finally, it is time to enjoy our vision by considering what the smart choices are for spending our money.

“It was an eye-opener to learn what, as students, we can achieve with strong will and smart investments,” said HPU student Srinath Narendra.

 

 

 

©2003, Kalamalama, the HPU Student Newspaper. All rights reserved.
 
This site is maintained by Johan Astrom
Website done by Rick Bernico