Personal Life-Cycle Economics

Every choice you make about education, career, where to live, housing, family, and investments entails economic benefits and costs. The decisions you make will affect your lifetime standard of living.

To put it politely, most personal financial advice -- whether from trade books, textbooks, television talk show pundits, or professional personal financial advisors -- is not substantiated by the body of economic science.

The life-cycle model helps you to think about personal finance in terms of your sustainable lifetime standard of living. By using the life-cycle model, you will smooth your standard of living over time; maximize your standard of living in a risk-free way; protect your standard of living; and price your passions in terms of the cost to your standard of living.

Personal Life-Cycle Economics is a general introduction to the economics of personal finance suitable for high school or college students with no previous background in economics or finance. The emphasis of the book is the development and application of the life-cycle model as the framework for evaluating all of your personal finance decisions and getting the best economic deal in life.