05-09-06

Media Release

OSU Business Students Compete in Annual Lifetime Financial Planning Contest

CORVALLIS, Ore. – News reports remind us daily that we are a nation of debtors, not savers, and that far too few of us have socked away enough cash to ensure an easy retirement. But as students at the Oregon State University College of Business showed recently through the eighth annual Lifetime Financial Planning Contest, more than a few have what it takes to make the golden years as good as gold.

Sponsored by Harley and Brigitte Smith, the contest requires participating students to create a financial plan of 10 pages or less for themselves (or a fictitious person) based on their participation in a weekly financial planning seminar led by Finance Professor Raymond M. Brooks. The plan must begin at age 21 and guide the investor through retirement, addressing income projections, investment choices, major expenses, charitable giving and more.

This year’s winners were senior Byron Williams, first place and a $1,000 cash prize; senior Jessica Teufel, second place and $600; senior Nicole Gibbons, third place and $300; and senior Lucas Dodge, honorable mention and $100.

Plans were judged by Larry Hanslits and Fred King of the H Group, Inc., Nadine Davison of Jean Smith and Associates and Jim Kuhlman of State Farm Insurance. The judges also lectured at one of the weekly seminars, providing professional guidance over different aspects of financial planning.

“This year’s winners demonstrated a full array of knowledge across many important issues in financial planning,” said Brooks. “These and the other dozen students that participated in the seminar now carry with them ideas and concepts that will enrich their personal money management for the next 50 years.”

Harley Smith, a 1959 graduate of the College of Business, is founder and president of Harley Smith Investments Inc., a private real estate brokerage firm located in Stockton. As vice president of the student body in the 1950s, he personally hand-wrote the resolution to change the university’s name from Oregon State College to Oregon State University. He has served on both the OSU Foundation Board of Trustees and the College of Business Advisory Council, and was recently honored by the OSU Alumni Association for exemplary service to the university.