All the financial advice you'll ever need on an index card
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All the financial advice you'll ever need on an index card
I came across this index card, all the financial advice you'll ever need.
credit: http://www.businessinsider.com/financia ... ard-2013-9
credit: http://www.businessinsider.com/financia ... ard-2013-9
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- Posts: 6993
- Joined: Mon Jan 03, 2011 8:40 am
Re: All the financial advice you'll ever need on an index ca
I can do better. I can do it in 5 lines:
1. Save as much as you can so you can invest as much as you can
2. Asset allocation is king and should be based on your willingness, ability, and need to take risk.
3. Active management is a losers game so avoid it.
4. Be cognizant of fees, taxes, and inflation as they eat into long term returns
5. Stay the course to prevent yourself from messing it all up!!
Good luck.
1. Save as much as you can so you can invest as much as you can
2. Asset allocation is king and should be based on your willingness, ability, and need to take risk.
3. Active management is a losers game so avoid it.
4. Be cognizant of fees, taxes, and inflation as they eat into long term returns
5. Stay the course to prevent yourself from messing it all up!!
Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” |
-Jack Bogle
Re: All the financial advice you'll ever need on an index ca
I liked Dilbert's 9-point plan.
http://www.marketwatch.com/story/dilber ... mics-nobel1.Make a will
2.Pay off your credit cards
3.Get term life insurance if you have a family to support
4.Fund your 401k to the maximum
5.Fund your IRA to the maximum
6.Buy a house if you want to live in a house and can afford it
7.Put six months worth of expenses in a money-market account
8.Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement
Bob
Re: All the financial advice you'll ever need on an index ca
staythecourse wrote:I can do better. I can do it in 5 lines:
I cannot remember which book I read it in but there are only three things in investing that you can control well. They are;
1) Keeping investing cost low.
2) Your asset allocation.
3) How much you save or spend each year.
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- Posts: 6993
- Joined: Mon Jan 03, 2011 8:40 am
Re: All the financial advice you'll ever need on an index ca
How about avoiding active management or staying the course?? Those are in your control and would say two major reasons folks do worse then the market. I do like the others though!!Watty wrote:staythecourse wrote:I can do better. I can do it in 5 lines:
I cannot remember which book I read it in but there are only three things in investing that you can control well. They are;
1) Keeping investing cost low.
2) Your asset allocation.
3) How much you save or spend each year.
Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” |
-Jack Bogle
Re: All the financial advice you'll ever need on an index ca
1. Don't worry
2. Be happy
2. Be happy
Re: All the financial advice you'll ever need on an index ca
Good investment advice but financial advice is broader e.g. health, life, disability,casualty insurance, wills, estate plan etc. e.g.You can have a great investment portfolio and a major health issue or bad event like hurricane Sandy can leave you in bad shape if you don't have the proper insurance coverage.
Re: All the financial advice you'll ever need on an index ca
And I would add:staythecourse wrote:I can do better. I can do it in 5 lines:
1. Save as much as you can so you can invest as much as you can
2. Asset allocation is king and should be based on your willingness, ability, and need to take risk.
3. Active management is a losers game so avoid it.
4. Be cognizant of fees, taxes, and inflation as they eat into long term returns
5. Stay the course to prevent yourself from messing it all up!!
Good luck.
6. Protect yourself against financial ruin. (limit risk, buy term life, buy umbrella, medical insurance with high or no lifetime cap)
- Taylor Larimore
- Posts: 32842
- Joined: Tue Feb 27, 2007 7:09 pm
- Location: Miami FL
The Three Fund Portfolio.
Thebogledude:
Best wishes.
Taylor
Consider: The Three Fund PortfolioAll the financial advice you'll ever need.
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle