All the financial advice you'll ever need on an index card

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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thebogledude
Posts: 420
Joined: Thu Jun 09, 2011 12:40 am

All the financial advice you'll ever need on an index card

Post by thebogledude »

I came across this index card, all the financial advice you'll ever need.

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credit: http://www.businessinsider.com/financia ... ard-2013-9
staythecourse
Posts: 6993
Joined: Mon Jan 03, 2011 8:40 am

Re: All the financial advice you'll ever need on an index ca

Post by staythecourse »

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.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle
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CABob
Posts: 5091
Joined: Sun Feb 25, 2007 7:55 pm
Location: Southern California

Re: All the financial advice you'll ever need on an index ca

Post by CABob »

I liked Dilbert's 9-point plan.
1.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
http://www.marketwatch.com/story/dilber ... mics-nobel
Bob
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Watty
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Re: All the financial advice you'll ever need on an index ca

Post by Watty »

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.
staythecourse
Posts: 6993
Joined: Mon Jan 03, 2011 8:40 am

Re: All the financial advice you'll ever need on an index ca

Post by staythecourse »

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.
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!!

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle
rixer
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Joined: Tue Sep 11, 2012 4:18 pm

Re: All the financial advice you'll ever need on an index ca

Post by rixer »

1. Don't worry
2. Be happy
Dandy
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Joined: Sun Apr 25, 2010 7:42 pm

Re: All the financial advice you'll ever need on an index ca

Post by Dandy »

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.
dandan14
Posts: 972
Joined: Wed Feb 11, 2009 6:32 am

Re: All the financial advice you'll ever need on an index ca

Post by dandan14 »

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.
And I would add:
6. Protect yourself against financial ruin. (limit risk, buy term life, buy umbrella, medical insurance with high or no lifetime cap)
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Taylor Larimore
Posts: 32842
Joined: Tue Feb 27, 2007 7:09 pm
Location: Miami FL

The Three Fund Portfolio.

Post by Taylor Larimore »

Thebogledude:
All the financial advice you'll ever need.
Consider: The Three Fund Portfolio

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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