Banking

Dilbert's 9-point financial plan

Found via Reddit: 'Dilbert's' 9-point financial plan worthy of economics Nobel - MarketWatch 

I'll skip to the good part:Way of the Weasel

  1. Make a will
  2. Pay off your credit cards
  3. Get term life insurance if you have a family to support
  4. Fund your 401k to the maximum
  5. Fund your IRA to the maximum
  6. Buy a house if you want to live in a house and can afford it
  7. Put six months worth of expenses in a money-market account
  8. 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
  9. 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

I'm about halfway there under teh Dilbert Plan. Guess I better make a will and start that IRA ASAP. I'm not going to think about the source, the advice is too good. If you don't believe me, read the article.

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Jay Garmon has a vast and terrifying knowledge of all things obscure, obtuse, and irrelevant. One day, he hopes to write science fiction, but for now he'll settle for something stranger — amusing and abusing IT pros. Read his full profile. You can a...

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