Financial Planning is a journey and it is always nice to discuss the different ideas and experiences.<\/p>\n
Cartoonist Scott Adams, whose Dilbert comic strip is a valuable educational tool that teaches what corporate life is really like, recently published a simple and straight forward book on Financial planning. It is called \u2018Everything You Need to Know About Financial Planning\u2019<\/strong>. The most interesting part is that the book is of 87 words. Yes – Only 87 words.<\/p>\n Here is the content of the book:<\/p>\n In Indian context, we use PF instead of IRA and 401K.<\/p>\n Valuable Advice indeed ! Clearly, less is more !<\/p>\n
\n1. Make a will.
\n2. Pay off your credit cards.
\n3. Get term life insurance if you have a family to support.
\n4. Fund your 401(k) to the maximum.
\n5. Fund your IRA to the maximum.
\n6. Buy a house if you want to live in a house and you can afford it.
\n7. Put six months\u2019 expenses in a money market fund.
\n8. 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.
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