25 Money Rules (and When to Break Them) with Brian Feroldi
Author: Chris Hutchins
July 31, 2024
Duration: 55:22
#186: We'll break down 25 investing and finance rules of thumb, so you can learn to make better financial decisions, whether your goal is growing your wealth, retiring early, managing your portfolio, buying a car, or many other goals.
Brian Feroldi is an investing expert and founder of Long Term Mindset, a financial education company. He is the author of Why Does The Stock Market Go Up? and shares his financial knowledge through The Motley Fool and his popular YouTube channel.
Link to Full Show Notes: https://chrishutchins.com/investing-personal-finance-rules-of-thumb-brian-feroldi
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Resources Mentioned
Brian Feroldi: Website | X | Instagram | LinkedIn | YouTube
12 Timeless Lessons For Stock Investors
Emergency Fund Size Formula
ATH Podcast:
Episode #48: Using an Investing Checklist to Improve your Portfolio with Brian Feroldi
Episode #91: Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins
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Email us for questions, tips, deals and feedback
Books:
The Millionaire Next Door by Thomas J. Stanley and William D. Dank
Stocks for the Long Run by Jeremy Siegel
Blog Posts:
Nick Maggiulli: Should I Max Out My 401k?
Early Retirement Now: The Safe Withdrawal Rate Series
401k Fee Checker
Wealthfront: Get a 0.5% APY boost
Full Show Notes
(00:00) Introduction
(00:48) Why Personal Finance and Investing Is a Complicated Subject
(02:30) The Rules of 72 and 70
(04:48) How to Apply Rule 72
(06:24) Rule 110(09:09) The 5 Year Rule
(10:54) The 10-5-3 Rule for Growth Rates
(12:26) The 6% Rule
(13:57) The 3-6 Rule for Personal Finance
(19:06) Brian's Emergency Fund Size Formula
(21:40) The 5% Rule
(23:28) Brian's Personal Rule of Thumb for Investing
(27:07) The 1% Rule
(31:27) Hiring Advisors
(37:40) Calculate Your Net Worth: Age x Income / 10 Rule
(39:37) The 15% Rule for Saving
(40:46) The 50-30-20 Rule
(42:00) The 80% Rule
(44:03) The Employer Match Rule
(46:52) The 4% Rule
(49:07) The 25x Rule (An Inverse Rule)
(50:35) The 20-4-10 Rule for Buying a Car
(52:32) The Debt : Income Ratio
(53:42) The 3% to 4% Salary Increase Rule
(55:16) The 8-50 Rule
(56:15) Chris' 4-3-2 Rule for Cashback Points
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