What's next, a Rational (tm) Work Out sequence? A Rational (tm) Dating sequence? A Rational (tm) Build Your Own PC sequence?
There are plenty of important topics for which a reputed and sourced guide by a trusted authority with a community stamp of approval would be helpful, but the most efficient way to achieve that would be for regulars to seek out established and reputed guides online (since rational in this context translates simply to 'good'/'efficient'), then link to them in some "guide repository thread".
That being said, when proven high quality content providers on LW choose to write about anything, people will want to read it. Do you count yourself among that reference class?
A non-rationality sequence about financial planning, tailored to US citizens (with topics such as "401K matching") and a few paragraphs about "salary negotiation" and the like, written by a newcomer with unknown credentials in the field, labeled as "Rational" - the prior for "such a sequence is likely to increase the signal/noise ratio" goes lower and lower. Especially in the presence of easily accessible guides such as e.g. "Money 101" on CNNMoney.
There's something worse than no information, which is unreliable information from uncertain sources. Knowing that you know nothing versus falsely believing that you know something, and all that.
What's next, a Rational (tm) Work Out sequence? A Rational (tm) Build Your Own PC sequence?
Those would both be very useful, especially the former one.
A Rational (tm) Dating sequence?
No. This kills the mind.
What follows is a rough outline for a possible rational financial planning sequence that was inspired by some other recent discussion here. I'm not sure how useful this would be to how many people. I know there are some LessWrongers who would enjoy and learn from this; but I don't know if there are 5, 50, or 500. If you'd like to read it, let me know. If 500 people tell me they can't wait for this, I'll probably write it. If 5 people say maybe they'll glance at it, then probably not.
Part I: Preliminaries:
Financial Rationality
Multiplying uncertainties
The inside and outside views
Interpolation is reliable; extrapolation isn't
Part II: This is important:
Part III: Analyzing Your Life
(This section needs a lot more fleshing out, and thought)
Personal satisfaction and happiness: do what you love, and adjust your financial expectations accordingly
How much do you need to retire?
When do you want to retire?
How much do you need to live on today?
Big expenses you need to plan for
Increasing Income
College the best financial decision you'll ever make or the worst?
Choosing a career: what is your comparative advantage?
Switching careers
Career Decisions
equity vs salary; steady singles or home run hitter
employee or owner
Career Tactics
Salary negotiation
promotion
when to change jobs
Cutting Expenses
Save more tomorrow
Inheritance
Part IV: The Practical How-to Advice:
Emergency Cash
Credit cards: the good, the bad, and the criminal
Banking
Where to save (tax advantaged accounts)
The importance of fees
401K matching: the highest return you'll ever see
Social Security
Pensions
What to invest in (index funds)
diversification
stock vs bond funds
domestic vs. international
target retirement funds
Comic books are not a retirement plan (but a comic book store might be)
Avoiding hucksters and doomsayers
Investment Advisors
What if the shit hits the fan?
Can smart, rational investors beat the market?
Good debt; bad debt
Cars and other expensive purchases
Cutting out the middleman: making money on Craig's list, amazon, eBay and AirB&B
Buying a house
Renting vs. owning a house; rental parity
Student loans
Health Insurance
Life Insurance
Auto Insurance
Your Spouse: the most important financial decision you'll ever make
Diamonds are forever, but most women would rather have a house.
One or two incomes?
Live longer, be happier, get married
Children
Charity
If there are any topics you'd like to see covered that aren't here (wills? lawyers? the financial press?), let me know. Similarly, if you think there's a section that doesn't belong and should be dropped, let me know that too.
One caveat: while some sections are fairly generic, others will be very U.S. centric. The most specific advice will not be applicable to non-U.S. citizens and residents. That does limit the audience, but there's not too much I can do about that. Perhaps if it's successful I can seek out co-authors to do UK, Canadian, or other country editions.
A question for people who are interested in financial planning material: If this were available as a complete book (electronic and paper) today, how likely do you think it is that you would buy this book instead of one of the other available books on the subject? What would you pay for such a book? If this were available as both a book and a sequence on LessWrong, how might that change your decision?
For now, this discussion thread is just a minimum viable product (MVP) to find out if a sequence is worth the time it would take me to complete. If the MVP pans out, I'll write and post one or two of these chapters to further gauge interest. If the MVP doesn't look promising, I'll drop it and move on to my next book idea.