The Ten Commandments of Financial Freedom

[frayne]

ok by me

 

[Alan]

ok by me

 

[kcowan]

I have summarized this creative set of guidance here:

The Ten Commandments of Finance

Now updated with all collaborator's screen names. Thanks all.

 

[Ed_The_Gypsy]

6)Thou shalt not hire any advisor named "Guido", "Lucky", or "Slick".........

or Redbone. (Does anyone remember?)

 

[TickTock]

Hey, Scott Adams did it with only nine:

I owe you one, Nords!

I *knew* I had that summary in one of my Dilbert books, went looking for it mroe than once, and failed.

Now I've got it: Dilbert and the Way of the Weasel, page 178.

 

[mathjak107]

"thou shall not covet they neighbors ass. divorce is expensive!

 

[skyline]

Hey, Scott Adams did it with only nine:
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

This is completely off topic, but does anyone else remember reading in one of Scott Adams' books that (and I believe he was being serious), the thing you had to do to get anything in life was to write what you wanted (in this case financial independence) something like 20 times each day and believe that you would get it? And that this would (again, I believe he was being serious) transfer your existance to a parallel universe where what you wanted was a reality?

His 9 steps listed above seem far more reasonable...

 

[TickTock]

skyline,

The Dilbert Future, pages 246 - 252, "Affirmations" and Appendix A, pages 255 -256, "Affirmations Technique".

 

[Spanky]

Tho shalt remain single and childless.

..and spend all before the inevitable.