A quick little finiancial checklist to start you off right. This was first shared by Scott Adams and I though I should add it here. This is from Scott Adam’s book “Dilbert and the Way of the Weasels.” He goes on to state that annuities are a bad idea. Whole life insurance is also a bad idea. Investing in individual stocks is a bad idea. Investing in managed mutual funds instead of an index fund is bad. The list goes on but that is the idea. Tell me what you think.

1. Make a will if you haven’t already done so.
2. Cut up those credit cards as they are the things of evil.
3. Seek and get Term Life Insurance if you haven’t already done so.
4. Fund your 401K to the maximum amount.
5. Fund your IRA to the maximum amount.
6. Buy a house if you wish to own one and only if you can afford it.
7. Always stash away at least six months worth of expenses expenses in a money-market account.
8. Take all other money and invest 70% in a stock index fund and 30% in a bond fund and do not touch until ready to retire. I like to use Sharebuilder to do this.

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