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'Dilbert's' 9-point financial plan worthy of economics Nobel ...

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Saved by 3 people (0 private), first by anonymouse user on 2006-10-11


Public Sticky notes

  • Make a will
  • Pay off your credit cards
  • Get term life insurance if you have a family to support
  • Fund your 401k to the maximum
  • Fund your IRA to the maximum
  • Buy a house if you want to live in a house and can afford it
  • Put six months worth of expenses in a money-market account
  • Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement
  • If any of this confuses you, or you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio
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