Streamlining Personal Finance

Ideas, comments? lalit@ri.cmu.edu

Warning - This is a point of view and unified towards a paritcular culture


This page describes a few options for highly internet oriented personal finance options and basics of investment for the novice like me.


Money Basics


Analysis Basics

There is a lot of advice, software out there. But it all comes down to models people have built in their heads and in computers. Here are basics you need to know to have the right mix of intelligence and skepticism as you encounter advice and computer charts that are only valid so far.


Online Banking and Investment

The first step is to make day to day spending easy and spend the least effort organizing it. The QIF (Quicken Interchange Format) is used by both online Banks and finance software. The following components represent the key software and steps to organizing your money:


Investment

(at inflation + 10.4%/yr, money doubles every 7 years)

The following categories outline types of saving and investment in increasing risk (i is inflation):


Retirement Planning

Most people invest 6% as savings. It looks like you would need to save closer to 9%. Be safe in retirement investment, especially if you do not track it closely. Look at funds, factors like


Investing Wisdom


lalit@ri.cmu.edu
Nov 1997