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8 Rules to Financial Freedom

February 29, 2016 Leave a Comment

Investment advisor Mickey Kim summarized the concept of mapping financial freedom on an index card that first pioneered by Harold Pollack. Follow these 8 simple rules to achieve your financial freedom:

  1. Strive to save 10 percent to 20 percent of your income
  2. Pay your credit card balance in full every month
  3. Max out your 401(k) and other tax-advantaged savings accounts
  4. Never buy or sell individual stocks
  5. Buy inexpensive index funds
  6. Make your financial adviser commit to the fiduciary standard
  7. Buy a home only when financially ready
  8. Insurance—make sure you’re protected

(ibj.com)

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