PERSONAL FINANCIAL GUIDELINES

Saw this in a video and it made some sense. Just want to share and hear your point of view.

Rule #1

Strive to save 10 -20% of your income.

Rule #2

Pay your credit card balance in full every month.

Rule #3

Max out your 401 (k) and other tax - advantaged savings account.

Rule #4

Never buy or sell individual stocks

Rule #5

Buy inexpensive, well - diversified indexed mutual funds and exchange - traded funds.

Rule #6

Make your financial professional commit to a fiduciary standard

Rule #7

Buy a home when you are financially ready or stable.

Rule #8

Make sure you are protected (Insurance).

Rule #9

Do what you can to support the social safety net. (Controversial)

Rule #10

Always look at these rules before making financial decisions.

*Copied from an online financial advisor.

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