BillSeitz |
This is a "classic" of financial planning. It's written like fiction, using narrative to convince you to take simple actions.
The specific actions he pushes:
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make a will
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buy term LifeInsurance
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invest 10% of your income for growth - this is not for retirement income, this is extra!
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PayYourselfFirst (automate your cash flow)
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put into equity actively-managed mutual funds
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also OK to invest in RealEstate - buy rental home - but much messier/riskier
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retirement: invest however much it takes to plan on matching your after-tax income in retirement - ideally living off the income not the principal
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use appropriate tax-advantaged fund: IRA, Keogh, SEP, 401k
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buy your home
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minimize other debt (definitely avoid credit-card debt). If you get a windfall, use it to pay off non-deductible debt
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2012-10-11 13:44:01.605139
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