The World Of Business Essay

1553 words - 6 pages

The World of Business " What does it take to get people to realize they could suffer financial ruin if they don't take steps to protect themselves? The answer: financial ruin" Susie Orman (1). Almost every job requires college or some sort of technical schooling nowadays, as does finance. Financial managers work with companies and improve techniques within the company to make their money go further and last longer. Portfolio managers typically work with people who seek investment advice and look to better their future. In today's world everyone tries to get the most out of their money, that's why the field of financial/portfolio managing stands as an important part of the business world.College, an essential to become a financial/portfolio manager, takes part in many of the lives of young men and women. Just like other jobs financial manager/planner requires a minimum of four years of college. Courses in business, administration, economics, accounting, and finance remain the minimum academic requirement. Many companies keep eye out for graduates with a master's degree in the fields above or risk management, because these programs provide knowledge of the latest financial methods and technology. Continuing education beyond college is vital for financial/portfolio managers. Companies often offer training programs to keep financial/portfolio managers up to date. Firms provide opportunities to improve financial skills by encouraging workers to take classes at local colleges and frequently reimburse the employee after the course is completed. In addition they also provide training programs within the firm to educate all the employees. (U.S. Department of Labor. "Education Required" March 12, 2001) Special skills are necessary for the success of a financial/portfolio manager. A good sales ability is one of the most important talents to possess in this field. Experience, another important skill, helps employees who are hardworking and excel at their jobs because often times financial managers are promoted within the company. Financial/portfolio managers must be able to work independently.Most investors, whether they are individuals with not very much money or large companies that are looking to invest millions, consult portfolio managers when buying or selling stocks, mutual funds, or insurance annuities. Many people seek advice from portfolio managers for the best possible investments for their situation and the amount of money they own. Portfolio managers also help out with retirement plans, which many people don't even realize they need. (Orman, Suze. "Where and How to Invest" 1998.) A plastic surgeon added that he had three boats and five cars but hadn't gotten around to assembling a pension plan. Financial investments? Didn't have those, either. Later on this doctor summed up his financial philosophy: "Money," he said with a wave of his hand, " is the most easily renewable resource." Thomas Stanly and William Danko (77).There are many different...

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