個人ファイナンス

個人ファイナンス（こじんファイナンス、パーソナルファイナンス、個人資産管理）は、個人や家庭の財政を決定づける金融原則。 個人や家族が、さまざまな金融リスクや将来の人生におけるイベントの中で、長期的に所得を得て貯蓄し、かつ消費していく方法を獲得することを目的としている。 個人ファイナンスの分野には、小切手や預金口座、クレジットカードや個人ローン、株式市場での投資や年金、社会保障や保険ポリシー、所得税の管理などが含まれる。 個人ファイナンスの鍵となる概念は、定期的な監査と再評価が求められる動的な財務計画である。一般的に以下の5つのプロセスがある。 評価: 当人の個人的な財政状況は、簡易な金融貸借対照表と損益計算書を作成することで評価できる。個人の貸借対照表には、例えば資産の部には車・家・個人資産などが並び、負債の部にはクレジットカード残債・銀行借入・住宅ローンなどが記載されるだろう。また損益計算書には、個人の所得と出費が記載される。 目標の設定: 「65歳で100万ドルの個人純資産を形成」や「3年間の支払いで住宅を購入、毎月の支払いは自分の総収入が25%上限」など。短期的なものと長期的なものとで複数の目標があることは珍しくはない。目標設定はファイナンス計画の作成に役立つ。 計画の作成: ファイナンス計画はどのように目標を達成するかを記載する。それは例えば、不必要な支払いの削減自身の所得増加・株式市場への投資などがある。 実行: 自身のファイナンス計画の実行には度々規律と忍耐が必要になる。多くの人は、ファイナンシャルプランナー・投資アドバイザー・弁護士などの専門家から協力を得ているだろう。 監査と見直し: 時間の経過とともに、ファイナンス計画の可能性の調整や見直の実施を検討する必要がある。 Financial Planning Standards Board からは、個人ファイナンスについて以下6つの領域が提案されている。 1 - Financial Position: this area is concerned with understanding the personal resources available by examining net worth and household cash flow. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flow totals up all the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. 2 - Adequate Protection: the analysis of how to protect a household from unforeseen risks. These risks can be divided into liability, property, death, disability, health and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract. Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals, athletes and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance also enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. 3 - Tax Planning: typically the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax. Typically, as your income grows, you pay a higher marginal rate of tax. Understanding how to take advantage of the myriad tax breaks when planning your personal finances can make a significant impact upon your success. 4 - Investment and Accumulation Goals: planning how to accumulate enough money to acquire items with a high price is what most people consider to be financial planning. The major reasons to accumulate assets is for the following: a - purchasing a house b - purchasing a car c - starting a business d - paying for education expenses e - accumulating money for retirement, to generate a stream of income to cover lifestyle expenses. Achieving these goals requires projecting what they will cost, and when you need to withdraw funds. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which typically will subject the portfolio to a number of risks. Managing these portfolio risks is most often accomplished using asset allocation, which seeks to diversify investment risk and opportunity. This asset allocation will prescribe a percentage allocation to be invested in stocks, bonds, cash and alternative investments. The allocation should also take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. 5 - Retirement Planning: retirement planning is the process of understanding how much it costs to live at retirement, and coming up with a plan to distribute assets to meet any income shortfall. 6 - Estate Planning: involves planning for the disposition of your asset when you die. Typically, there is a tax due to the state or federal government at your death. Avoiding these taxes means that more of your assets will be distributed to your heirs. You can leave your assets to family, friends or charitable groups. Kwok, H., Milevsky, M., and Robinson, C. (1994) Asset Allocation, Life Expectancy, and Shortfall, Financial Services Review, 1994, vol 3(2), pg. 109-126.