0 Flares 0 Flares ×
Nine Things You Should Do Instead of Buying Stocks
This Motley Fool article refers to Scott Adams’ (the creator of Dilbert) 9 steps to generate and protect wealth. I mostly agree with these principles and think its worth following.
- Make a will.
- Pay off your credit cards.
- Get term life insurance if you have a family to support.
- Buy a house.
- 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.