lorawilliams
New member
Someone just posted on the Fat Wallet Community on Facebook (the group for listeners of the Fat Wallet Show podcast) about a book called The Index Card by Harold Pollack and Helaine Olen. The concept is that all the personal financial advice you need can be written on an index card, such an interesting concept that I had to investigate.
Here’s the rules from the original index card:
Here’s the rules from the original index card:
- Max your 401(k) or equivalent employee contribution.
- Buy inexpensive, well-diversified mutual funds such as Vanguard Target 20xx funds.
- Never buy or sell an individual security. The person on the other side of the table knows more than you do about this stuff.
- Save 20% of your money.
- Pay your credit card balance in full every month.
- Maximize tax-advantaged savings vehicles like Roth, SEP and 529 accounts.
- Pay attention to fees. Avoid actively managed funds.
- Make financial advisors commit to the fiduciary standard.
- Promote social insurance programs to help people when things go wrong.
- Max your Retirement Annuity or equivalent employee contribution/pension plan.
- Buy inexpensive, well-diversified index funds such as the Satrix MSCI World ETF.
- Never buy or sell an individual security/share. The person on the other side of the table knows more than you do about this stuff.
- Save 20% of your money.
- Pay your credit card balance in full every month.
- Maximize tax-advantaged savings vehicles like a Tax-Free Investment account.
- Pay attention to fees. Avoid actively managed funds.
- Make financial advisors commit to the fiduciary standard.
- Promote social insurance programs to help people when things go wrong.