The Dilbert Personal Finance Plan

Over on the SCU Finance Connexion's Yahoo! Group there has been a lot of interesting talk about how to beat the S&P 500, learn about and implement options investing strategies, and more. I found that the personal finance plan recommended by Scott Adams of "Dilbert" fame is very close to the plan that I am following. The Dilbert plan only takes one page, and is available for free on Vanguard's website.

Here are some adjustments and additions I have added to the Dilbert plan:

• Consider a "living trust" instead of a will.
• Adjust the 70/30 ratio for age: Heavier on stocks for those who are younger, heavier on bonds for those who are older.
• Pay for everything in cash but a home and—if you really can't get an employer, grant, scholarship etc. to pay for it—education. That means no auto loans.
• Maintain a good professional and social network and have your resume ready: You'll need both if your main source of cash flow—your job—is unexpectedly terminated.

Of course, both Scott Adams' and my advice won't apply to every person's personal situation.
Do you have any comments? I'd be interested to hear them.