Financial futures

Financial roadmap ... Dr Morrison with his new book

A new book will help people plan their finances throughout their lives and careers.

University of Queensland Law School academic, Dr David Morrison, has created a roadmap for personal finance in his new book Personal Financial Planning that serves both as a text for students and a reference work for individuals and investment advisors. The book is the first Australian edition of a bestselling US text that examines finance topics such as investments, tax and superannuation in an interdisciplinary way including both legal and financial perspectives.

Dr Morrison explores the financial planning process for individuals within a decision-making process facilitating key decisions that are made around money and investment. “The interdisciplinary work complements my current research interests around financial literacy and the consequences of debt and insolvency,” Dr Morrison said.

“Financial literacy is a key component in addressing both the needs of an ageing population and in assisting an understanding of investment decisions given the rapid increase in the holdings of investable assets by all via superannuation. “Financial literacy is also a critical factor in understanding decisions made by people who are in financial difficulty and bankruptcy.”

Dr Morrison is part of a world-wide interdisciplinary study on the impact of consumer bankruptcy, spending time this year as Visiting Professor at the University of Illinois College of Law.

“The book enhances the practical aspects of interdisciplinary research conducted with the support of the Australian Research Council with UQ’s School of Social Work and Applied Human Sciences on the management of older people’s financial assets and research completed in relation to a community demonstration project at Redcliffe on Brisbane’s north side,” he said. Dr Morrison said Personal Financial Planning was one of the few books available that contained local and up-to-date information explaining the interaction of finance and law, placing both in the context of financial decision-making.

“The book is structured as a lifecycle from the beginning to the end of a person’s financial and life journey, showing ways financial plans can be developed both for and by the reader,” Dr Morrison said. “It is written in an approachable style and all terms are defined.”

The book was launched by The Honourable Anna Bligh, MP, Deputy Premier, Treasurer and Minister for Infrastructure and Member for South Brisbane, late last year and is available from McGills Business and Technical Books.

• FUNDING: Accounting and Finance Association of Australia and New Zealand Research Grant; Australian Research Council Linkage grant; Queensland State Government and Wicking Trust Assisted Asset Management Community Demonstration Project; and UQ Early Career Researcher Grant
• RESEARCHER: Dr David Morrison
• EMAIL: d.morrison@uq.edu.au
• WEB: www.law.uq.edu.au

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