This 4×6 index card has all the financial advice you’ll ever need
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This 4×6 index card has all the financial advice you’ll ever need
1–10 of 264 posts
Re: This 4×6 index card has all the financial advice you’ll ever need
#2Seems about right to me.
Re: This 4×6 index card has all the financial advice you’ll ever need
#3What does HN think about the last statement?
-Promote social programs for when things go wrong
Re: This 4×6 index card has all the financial advice you’ll ever need
#4...If you happen to live in the United States, and the tax laws there don't change.
Re: This 4×6 index card has all the financial advice you’ll ever need
#5What does HN think about the last statement? -Promote social programs for when things go wrong
Seems like a no-brainer to me. The alternative is to have people panhandling on the streets. That's not pleasant -- on either side of the transaction. I'd rather live in a country where it wasn't necessary.
Re: This 4×6 index card has all the financial advice you’ll ever need
#6I would have an opinion but Australian law prevents me from having one without providing a statement of advice.
Re: This 4×6 index card has all the financial advice you’ll ever need
#7What does HN think about the last statement? -Promote social programs for when things go wrong
Sounds like political advice more than financial advice.
In a similar vein, I would advise people to support charities that help the less fortunate like food banks, but I wouldn't consider that financial advice.
Re: This 4×6 index card has all the financial advice you’ll ever need
#8...If you happen to live in the United States, and the tax laws there don't change.
well yes, but it should be too hard to replace "401k" with whatever tax-advantaged retirement program is available
Re: This 4×6 index card has all the financial advice you’ll ever need
#9Almost all of this is excellent advice, except for one point: "save 20% of your money". That's a bare minimum, which will let you retire after about 37 years of working. Bump it to 35% and you'll retire after 25 years. Bump it to 50% and retire in 17. Bump it to two-thirds and retire in 10 years.
That's one of the most important factors in your personal finances: not how much you make off your investments, not whether you max your 401k, but how much of your income you save and how much you spend. The only more important factor is "never borrow money", and in particular "never carry a balance on a credit card".
Re: This 4×6 index card has all the financial advice you’ll ever need
#10What does HN think about the last statement? -Promote social programs for when things go wrong
Sounds like political advice more than financial advice. In a similar vein, I would advise people to support charities that help the less fortunate like food banks, but I wouldn't consider that financial advice.
Cynically, you can consider it hedging one's bets (no pun intended.)