Why personal finance doesn’t have to be complicated

Source: The Index Card – HAROLD POLLACK

  • Rule #1: Strive to save 10 – 20% of your gross income
  • Rule #2: Pay your credit card balance in full, every month
  • Rule #3: Max out your 401(k) and other tax-advantaged savings accounts
  • Rule #4: Never buy or sell individual stocks
  • Rule #5: Buy low fees, well-diversified indexed mutual funds & exchange traded funds (ETF)
  • Rule #6: Make your financial professional commit to a fiduciary standard (bound by law to ‘put your interest ahead of his or her own’)
  • Rule #7: Buy a home when you are financially ready (long-term debt)
  • Rule #8: Insurance – make sure you are protected (what will your family do if you can’t work or if you die?
  • Rule #9: Do what you can to support the social safety net
  • Rule #10: Remember all the 9 rules

The Index Card

We make a living by what we get (donation)

When you give (money), you are abundance =)


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