REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Not only is our own esteemed SG publishing a personal finance book, but Vanguard reports Scott Adams of Dilbert fame has also gotten into the act. Adams has published a list called "Everything you need to know about financial planning"*
- Make a will.
- Pay off your credit cards.
- Get term life insurance if you have a family to support.
- Fund your 401(k) to the maximum.
- Fund your IRA to the maximum.
- Buy a house if you want to live in a house and you can afford it.
- Put six months' expenses in a money market fund.
- 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.
* Dilbert and the Way of the Weasel, Collins, New York, 2002, p. 172.
He does make the following statement, but since it is Dilbert I suppose you can't expect him to get everything exactly right...
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.
- Make a will.
- Pay off your credit cards.
- Get term life insurance if you have a family to support.
- Fund your 401(k) to the maximum.
- Fund your IRA to the maximum.
- Buy a house if you want to live in a house and you can afford it.
- Put six months' expenses in a money market fund.
- 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.
* Dilbert and the Way of the Weasel, Collins, New York, 2002, p. 172.
He does make the following statement, but since it is Dilbert I suppose you can't expect him to get everything exactly right...
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.