Found via Reddit: ‘Dilbert’s’ 9-point financial plan worthy of economics Nobel – MarketWatch
I’ll skip to the good part:
- 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
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.