Comments about ‘Everything you need to know about finances on a 4x6 index card’

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Published: Thursday, Sept. 19 2013 10:25 a.m. MDT

Updated: Monday, Aug. 4 2014 12:47 p.m. MDT

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kiddsport
Fairview, UT

Not to quibble too much, but I would put saving as number one. Pay yourself first; how you diversify those savings comes second.

kiddsport
Fairview, UT

Let me add- pay the Lord first. Everything else will follow.

Christopher B
Ogden, UT

I'm ok with promoting policies to help when things go wrong.

I'm not ok forcing people to pay for the wrong choices made by others.

Liberal Ted
Salt Lake City, UT

Now if we can get a copy of this card to the following:

Congress
Senate
President
Vice President
Every US citizen
Federal Reserve

The trouble is, it's too simple and makes sense and it makes people have responsibility for themselves. In this day of entitled know it all, and the government will bail you out because you are too big to fail or to poor to fail mentality.....

The best thing is to allow people to fail. They will learn very quickly how to get themselves back up. We always do.

But for those who will heed this advice will be able to retire young and enjoy the golden years and live like no one else, because they lived like no one else. (I stole that from Dave Ramsey).

greatbam22
andrews afb, MD

I don't see anything about having an emergency fund which is something every person so have.

Bob Wiley
North Salt Lake, UT

greatbam22: how about "Save 20% of your money"?

Daniel Leifker
San Francisco, CA

My relatives in Nevada might add the following to the card: No gambling!

george of the jungle
goshen, UT

There is always risk. So how long until the collapse. You have to give your money to only get penney's on the dollar.

carman
Wasatch Front, UT

The idea that individual shouldn't own individual stocks is overly simplistic. Owning individual stocks can give you great tax and estate planning advantages, enhance one's ability to maximize the value of charitable gifts, and gives investors flexibility to tailor a portfolio to match one's inflation and risk profile (e.g. if you have natural exposure to health care cost inflation, energy cost inflation because of where you live, family history, etc.).

It takes work, but most things that are valuable and worthwhile often require effort that most people are unwilling to do.

p.s. Owning individual stocks does not have to be speculative. If one's portfolio is of even modest size, it can be done with adequate diversification and without much more risk that an indexed portfolio. And it can be very inexpensive...

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