Dilbert’s Guide to Personal Finance

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money.jpgA while back Vanguard published Dilbert’s guide (Scott Adams) to Personal Finance:

  • 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.

The 8 step guide is fairly simple, but do you follow any or all of the principles (or disagree with any)? 

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