Imagining financial planning (2008-08-06)

Sample Retirement
Another life I imagine might be some sort of a financial planner. Clearly I like to play with numbers, and review personal finance books (e.g., illustrating compound interest and the cost of current gratification, or explaining stocks and bonds). While I'd like further education, I already have some competence with finance, following this advice:
  • Simplify by donating or selling unneeded items.
  • Maintain a used car as long as possible (e.g., by minimizing driving).
  • Have no debt--in fact, through budgeting save an emergency fund for one year's expenses.
  • Save and research for major purchases (including SIFF and travel).
  • Pay bills online automatically.
  • Almost always pay the full balance on credit cards selected for their features.
  • Regularly review three free credit reports.
  • Contribute to an (Roth or traditional) IRA.
  • Use savings to defer income in order to start a business.
  • Research and purchase auto, dental, disability, liability, life, medical, renter's, and vision insurance, combining when possible.
  • Have an estate plan.
  • Set up a 401(k) and fully fund it.
  • Periodically review asset allocation.
  • Have written goals and milestones for net worth and retirement.
While I'm not (yet) a millionaire, I would be interested in coaching others in Seattle, particularly those starting out in technical fields.

[Corrected wording.]