The Wealthy Barber, by David Chilton
10/2/02
Ideas:
Save 10% of net income, this is for wealth, a boat, nice retirement house, etc.
Max Retirement, 401(k)s, IRA, etc
Have a correct will
Correct amount of life insurance
Renting vs. Buying
Budget backwards
Take things off the top and spend the rest, pay your self first
AKA 10%, health insurance, retirement, then bills
This forces a discretionary spending cut
Best thing to do with excess cash, i.e. inheritance, is to PALY FF non-deductible debt
Then crank the 10% fund to 15%
Then spend it on yourself
Fill out tax forms yourself (1040-Long), and then go see a pro
Small Emergency Fund 2-3k
Disability Insurance, ask lots of questions, etc.
Make a Plan a follow it
