Financial Advice Needed Badly

S Freud

Diamond Member
Apr 25, 2005
4,755
1
81
Its an awful lot of put on a public forum and I would really like to deal with one person...so anybody willing to take some time to listen to someone and help them get their finances in order would be greatly appreciated.:thumbsup::)

PM me and I will lay it out for you
 

SophalotJack

Banned
Jan 6, 2006
1,252
0
0
good luck with that.. I won't be PM'n you since I am the last person on earth you should take advice on regarding money.
 

KLin

Lifer
Feb 29, 2000
29,499
124
106
Originally posted by: SophalotJack
good luck with that.. I won't be PM'n you since I am the last person on earth you should take advice on regarding money.

I'm right behind you in that line. :p
 

snoopdoug1

Platinum Member
Jan 8, 2002
2,164
0
76
can't you just put the basics here? No need for every last detail... you'd probably get more help that way
 

DaWhim

Lifer
Feb 3, 2003
12,985
1
81
is this solicited? I hate giving out unsolicited advice. the thing is they don't care.
 

thomsbrain

Lifer
Dec 4, 2001
18,148
1
0
yes, we should give you for free what most people pay for. and if you can't pay for it, you probably don't need it.
 

HombrePequeno

Diamond Member
Mar 7, 2001
4,657
0
0
1. Make a will
2. Pay off your credit cards
3. Get term life insurance if you have a family to support
4. Fund your 401k to the maximum
5. Fund your IRA to the maximum
6. Buy a house if you want to live in a house and can afford it
7. Put six months worth of expenses in a money-market account
8. 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
9. 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

That should about do it. Thank you, Scott Adams.
 

thepd7

Diamond Member
Jan 2, 2005
9,429
0
0
Originally posted by: HombrePequeno
1. Make a will
2. Pay off your credit cards
3. Get term life insurance if you have a family to support
4. Fund your 401k to the maximum
5. Fund your IRA to the maximum
6. Buy a house if you want to live in a house and can afford it
7. Put six months worth of expenses in a money-market account
8. 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
9. 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

That should about do it. Thank you, Scott Adams.
I actually had a meeting with a financial advisor last week and that's almost exactly what he went through (it was a general meeting, I am only 21). Although you should get life insurance as early as possible, even if you don't have a family yet. And your #7 should be higher, most likely 4ish.