All the Hacks: Money, Points & Life 25 Money Rules (and When to Break Them) with Brian Feroldi
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Jul 31, 2024 Brian Feroldi, an investing expert and founder of Long Term Mindset, dives into 25 essential money rules that can shape your financial future. He simplifies complex concepts like the rule of 72 for growth and the 4% rule for retirement. Listeners learn about balancing risk and stability as they approach retirement, essential strategies for debt management, and how to build robust emergency funds. Feroldi also highlights the significance of understanding advisor costs and optimizing investment fees, making money management approachable for everyone.
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Personal Finance Complexity
- Personal finance and investing are complex, influenced by personal experiences and emotions.
- These topics are rarely taught in school, leading to varied opinions and approaches.
Rules of 72 and 70
- Use the Rule of 72 to estimate investment doubling time: 72 divided by interest rate equals years to double.
- Account for inflation with the Rule of 70: 70 divided by inflation rate equals years for purchasing power to halve.
110 Rule for Asset Allocation
- The 110 Rule suggests subtracting your age from 110 to determine stock allocation percentage.
- The remainder should be allocated to bonds or cash.
