John Farrell, assistant dean of Graduate Programs in the College of Business Administration, was recently invited by Bristol-Myers Squibb and its Women’s Resource Group to present a lecture to 60 of its employees. The presentation, entitled Personal Finance Matters, was also broadcast in over 40 of its sites globally on November 9.
During his presentation, Farrell discussed financial planning principles; daily money matters, including budgeting and credit cards; and rules to manage one’s money. He explained the importance of personal financial planning in order to accumulate wealth for special expenses, save for retirement, protect your assets, invest intelligently and minimize payments to the government.
Then, Farrell described the 10 principles of personal finance: (1) the best protection is knowledge; (2) nothing happens without a plan; (3) the time value of money; (4) taxes affect financial decisions; (5) the importance of liquidity; (6) smart spending matters; (7) protect against catastrophes; (8) risk and return: hand-in-hand; (9) mind games and your money; and (10) steps to get started.
Malini Natarajan of the Audit Services Department at Bristol-Myers Squibb, said Farrell’s lecture was very well received.
“We received a number of e-mails and people passing us by telling us how useful it was. They thought John was very informative and offered great tips,” Natarajan said.
Farrell holds an M.B.A. from The Wharton School at the University of Pennsylvania and a B.A. in Economics from the University of Notre Dame. Farrell has 28 years of experience as a management consultant to global, European and U.S.-based corporations on strategic and operational projects. In addition to overseeing the College of Business Administration graduate programs and the Center for the Development of Leadership Skills, Farrell teaches the undergraduate-level Managing Your Money and Personal Financial Planning courses.