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.

About

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...

6 comments
Kiltie
Kiltie

Who is Dilbert? 401k is that a salary? (sounds nice) IRA? Didn't they disband? ;-)

khigh
khigh

I was subscribed to "Trivial Pursuits" through the RSS feed. Is there an RSS feed availible for the new blog? If so, where is the link?

khigh
khigh

I was having trouble finding the new link since the name change.

Jay Garmon
Jay Garmon

The RSS feed for the new blog is a little gummed up right now, but we're working on the problem and hoped to have it fixed soon. I'll post a link as soon as we have it working.

khigh
khigh

I'll keep my eyes open for the link to appear.