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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. 

Comments

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