Looking at an age-old investment rule of thumb. What’s good about it, what’s not, and how you might use the structure for your own rule.
principles of pollex
Principles of Pollex – Saving 10% of Income
(In case you are confused by the headline: a principle is a rule, and pollex is an obscure term for thumb. Therefore, we’re talking about Rules of Thumb.) I like rules of thumb, as a rule of thumb… I think we all generally want difficult issues in our lives to be boiled down to a simple, easy-to-understand statement. These rules of thumb are everywhere, all around us. Heck, there’s even a whole website dedicated to rules of thumb, where you can find rules on all kinds of subjects, as diverse as how to outrun a crocodile to changing your answers on a test. Save 10% of Your Income Let’s start with one of the basics you might hear regularly: Save 10% of your income. Like most all rules of thumb, this one is very general in nature, but it provides a good starting point. This starting point is best for […]
4 rules to break – for now
As you may know if you’ve been reading here for very long, from time to time I review financial rules of thumb – today I’ve got a bit of a twist on the “principles of pollex” concept: Here’s a very interesting article that I found today that tells about some of the old, time-honored sage pieces of advice that aren’t necessarily true – for the time being. Enjoy – I’ll be back next week! http://www.smartmoney.com/spending/budgeting/4-traditional-money-rules-to-break–for-now-1296858154544/
Sterling Raskie, MSFS, CFP®, ChFC®
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And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.