How Financially Versed are You?

I always wonder how I compare to my peers on financial knowledge. I know a little bit about finance. I am not perfect though. I know! I know! I work in banking how can I not be versed in everything financial? The answer is easy I am on the operations side of banking and I dabble in different realms of operations (codename peon). You name it I've probably done it. With the exception of proof. That department would make me bald. I understand credit cards. I understand bank accounts and fees. I understand the basic cornerstone of personal finance but, there is still alot that I don't know. Through all of my financial books, websites, radio shows and tv shows over the years I am a bit wiser about my finances when it comes to debt but, outside of that I need a little help.

I do have lots of room for improvement. I know what a stock is. I just do not know how to follow it or better yet how to read a prospectus without going cross eyed. I get my 401K statement and stare at it blankly hoping that if I put it under my pillow osmosis will make it seep into my brain and make sense. I don't know what funds I was invested in half the time. Recently I invested into an international fund, index fund and a retirement 2045 fund. I left my old investments where they were and changed my allocations to these funds. I know the index is chosen by a computer and it follows the stock market but, that is the most I know about that.

I am unaware of what the max is that I can put into a 401K or a Roth every year. I don't know if I should even be investing in my 401K since my job no longer matches our contributions.

There is alot I do not know. I am interested in learning but, I don't know when I should focus on it.

• Should I be worried about my 401K while I am still in debt?
• Should I have a Roth IRA already (I am not getting any younger)?
• How much of an E Fund do I need? I put away money but, have no e-fund set goal. Here is another instance that I hear experts throw out numbers and we are supposed to figure it out ($1000, 3 to 6 months living expenses, 8 to 9 months living expenses). What do you do with yours? Is your E fund just for that ? Are other funds mixed in with your e fund?

I have lots of financial questions swimming in my head that have yet to surface as I am writing this e-mail. I will have to follow up with these questions as they come to me.