Strive to save 10–20% of your income •Pay your credit card in full every month • Max out your 401(k)/tax-advantaged savings •Never buy/sell individual stocks • Buy inexpensive, diversified mutual funds • Make financial advisors commit to fiduciary std. • Buy a home when financially ready •Insurance—make sure you're protected *Adapted from The Index Card, Harold Pollack.
and $7000 in an emergency savings account. •Helaine has $0 in her savings account, but also has a $0 credit card balance. Who's in better financial shape?
•If you sit down to a game of cards and don't know who the sucker is—it's you. •TANSTAAFL •Commission? •"Fee-based" •Fee-only •Fiduciary standard at all times •Suitability standard
•For property insurance, higher deductibles are better •Double check that hospital & doctor are on health insurance plan •Liability insurance should be twice net worth •Avoid complicated annuities •Keep an emergency fund
to Be Complicated, Helaine Olen & Harold Pollack • The One-Page Financial Plan : a Simple Way to Be Smart about Your Money, Carl Richards* •A Random Walk Down Wall Street, Burton G. Malkiel* •The Elements of Investing, Burton G. Malkiel & Charles D. Ellis* * Available in SSCC library.