This post is to guide new wizards who reached 60, don't know where to start, and how to gear up using very little gold. With these guidelines, you will be able to start farming act 1/2 inferno in no time, start collecting great items for act 3+, obtaining gold and good paragon XP all while under the 500k gold mark ^_^ if you like what you are reading, it's about to get better.
First, Wizard stats breakdown as to what you want to be looking for on which item.
Helmet : Socket / Intellect (120+) / Arcane on crit (8+) . If you get some Vitality, it's a plus.
Shoulder : Intellect (140+) / All res (50+) / Life %
Gloves : Intellect (200+) / Crit chance (7% +) / Armor and/or Phys Res.
Bracers : Intellect (120+) / Crit chance (3%+) / Vitality and/or All Res and/or Armor.
Chest : Vitality (150+) / Sockets (3) / Intellect (any) / Armor and/or Phys Res
Belt : Intellect (100+) / Life % / Vitality (any)
Pants : Vitality (150+) / Sockets (2) / Intellect (50+) / Armor and/or Phys Res
Boots : Intellect (100+) / Movement speed (10%+) / Vitality(100) or All Res (50+)
Amulet : Intellect (160+) / Critical Hit Damage (45%+) / Vitality and/or Life %
Ring 1 : Intellect (70+) / Crit chance (3%+) / Life% and/or All Res and/or Vitality
Ring 2 : Intellect (70+) / Critical Hit Damage (20%+) / Life% and/or All Res and/or Vitality
This covers the entire suit of armor. Now onto the Weapons and Off Hands.
Weapon (Wand/Sword/Dagger) : High DPS (750+) / Life on hit (500+) and/or Life steal (2.5%+) / Socket
Off Hand (Source) : Crit chance (6%+) / Arcane On Crit (7+) / Intellect (100+) / Highest damage you can go
Alternative (Shield) : Crit chance (7%+) / Life % (12%+) / Vitality (120+) / Intellect is a bonus here
Also keep in mind that all shields you should look for a total block chance of above 16% and at least ilvl 61 (62+ prefered).
For every socket in your gear, you place Intellect gems, except for the helmet and weapon. where you place either a Red in the helm(XP) or Purple(life%) and Green in the weapon (Crit damage). For the purpose of this budget setup, I used flawless squares.
Total stats buffed can be seen here :
Shield - http://imgur.com/XklEE
Source - http://imgur.com/1gLrw
Item cost list here (after the triumvirate outbids) : http://imgur.com/1Zrgn
Total cost was ~420k gold. very cheap ^_^ (one item in the list was not considered, at 50k)
Now, what kind of wizard can we be with this getup ? Well this is where it gets interesting.
You choose what kind of wizard you want to play at this point (what!?) yes this suit will function acceptably on most builds ! ^_^
I have tried a CM wizard (shield) : http://us.battle.net/d3/en/calculator/wizard#WiYXhO!gfZ!abYacc
A Blizz Hydra Kite wizard (source) : http://us.battle.net/d3/en/calculator/wizard#liQXkO!gfY!ZbcYZc
An Archon wizard (source, 37k dps with GC) : http://us.battle.net/d3/en/calculator/wizard#VmQjSO!gfY!Zccacc
Wierd Build that I was having fun with : http://us.battle.net/d3/en/calculator/wizard#UlQXiO!gfT!ZYcaac
And all 4 of them have been able to deal with act 1/2 elites easily using this suit. Belial took about 1 min 15 seconds in phase 3.
So if you have any questions, comment, want to say hi ? please do so !
Cheers ! ^_^