Secret 9-Point Formula to Financial Success
An article at MarketWatch suggests that the best financial advice you can ever get comes from Dilbert. 'Dilbert' deserves the economics Nobel outlines cartoonist Scott Adam's secret nine-point formula to personal investing as revealed in "Dilbert and the Way of the Weasels."."Everything else you may want to do with your money is a bad idea."
- 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
Labels: success
Thursday, October 12, 2006
