Archive for the ‘Saving for Retirement’ tag
9 things to do with your life other than buy stocks
Scott Adams, creater of Dilbert, passes these along, courtesy of Motley Fool:
- 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 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 if you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner.
I don’t see any money for beer and rock concerts in there, alas.
Also, any time is a good time to ask yourself how much of your wealth you want tied up in your own company’s stock. Remember Enron.