Rules to grow rich by
Sometimes a retirement fund is not enough, you need to save to emergencies and luxuries, too. There is an article about Rules to Grow Rich By:
* Rule 4: Your total housing payments should not exceed 28% of your gross income. Total debt payments should come in under 36%.
* Rule 6: All else being equal, the best place to invest is a 401(k). Once you've earned the full company match, max out a Roth IRA. Still have money to invest? Put more in your 401(k) or a traditional IRA.
* Rule 12: If you're not saving 10% of your salary, you aren't saving enough.
* Rule 13: Keep three months' worth of living expenses in a bank savings account or a high-yield money-market fund for emergencies.
These rules are the ones I like. But all the other ones are good as well. Please leave encouraging comments to help me stay on my goals!
Funny thing, apparently, a lot of PFbloggers read CNN Money!
* Rule 4: Your total housing payments should not exceed 28% of your gross income. Total debt payments should come in under 36%.
* Rule 6: All else being equal, the best place to invest is a 401(k). Once you've earned the full company match, max out a Roth IRA. Still have money to invest? Put more in your 401(k) or a traditional IRA.
* Rule 12: If you're not saving 10% of your salary, you aren't saving enough.
* Rule 13: Keep three months' worth of living expenses in a bank savings account or a high-yield money-market fund for emergencies.
These rules are the ones I like. But all the other ones are good as well. Please leave encouraging comments to help me stay on my goals!
Funny thing, apparently, a lot of PFbloggers read CNN Money!
posted by j @ 10:19 PM
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