Sunday, October 22, 2006

Good financial guidelines

I found this post from The Big Picture to be a fairly good overview of how to save money and invest for retirement. It appears geared towards the middle class population not living in a local housing bubble. The rules are fairly simple to follow, and presume that you already have discipline and simply need guidance or affirmation. Keeping up with the Jones is not an option for most people who wish to retire comfortably.

I already follow these rules fairly well but I need to correct two deviations I've made. The first car I bought was a new one, and while I paid cash it was still not financially responsible; it was a personal decision that was worth the cost to me then, but I hope to not feel the need to do this again. Second, I have waaaaay too much % of my stock portfolio in my current employer. This is more a side effect of selling almost every other holding I had, but when I reinvest I need to balance better.

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