Dilbert’s Retirement Plan

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Dilbert’s Retirement Plan

7 Comments By Chris Tingom on October 10, 2006

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This is Scott Adams retirement plan:

Make a will
Pay off your credit cards
Get term life insurance if you have a family to support
Fund your 401k 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 you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio

Adams boldly states that this is “everything you need to know about personal investing.” In just 129 words, nine simple points, one page you have the unabridged “Unified Theory of Everything Financial.” That’s it. Everything!
Thanks to Adams’ formula, the average irrational investor can ignore Wall Street: “Everything else you may want to do with your money is a bad idea compared to what’s on my one-page summary. You want an annuity? It’s worse. You want a whole life insurance policy? It’s worse. You want to invest in individual stocks? It’s worse. You want a managed mutual fund instead of an index fund? It’s worse. I could go on, but you get the point.”

Source: MarketWatch and The Dilbert Blog.

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7 Comments »

Pingback posted by And You Retire » Six Random Links: October 10, 2006
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[...] (4) Dilbert’s Retirement Plan – http://www.brainfuel.tv [...]

The previous Pingback was posted on October 10, 2006 at 11:51 am

Comment posted by Douglas Perkins
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I’m going as Dilbert for Halloween. Roll up the pant legs, short sleeve white button down shirt, some alumnium foil behind the tie to make it bend up, glasses. All I need is a friend to go as Wally.

The previous Comment was posted on October 11, 2006 at 10:00 am

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The previous Pingback was posted on February 23, 2008 at 7:23 am

Comment posted by Dis Illusioned
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Scott Adams for PRESIDENT!!!!

The previous Comment was posted on March 27, 2008 at 2:56 pm

Comment posted by Ray
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Completely disagree with number 6, but very cool article anyway!

The previous Comment was posted on January 29, 2009 at 10:53 pm

Comment posted by Dizzle
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What, no covered calls?

The previous Comment was posted on February 2, 2009 at 2:49 pm

Comment posted by satire
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Hmm,
Wasn’t it supposed to be satirical?
Given Dilbert and Given “money left over”
Basically saying it takes money to make money so unless your rich you wont be rich kind of thing.