25 Money Rules (and When to Break Them) with Brian Feroldi

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 31 July 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

#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 Partner Deals DRAM: 20% off my favorite sparkling water with zero calories, zero sugar Superhuman: Free month of the fastest and best email with code ALLTHEHACKS Bilt Rewards: Earn the most valuable points when you pay rent Fabric: Affordable term life insurance for you and your family Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals 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 Follow & Review on Apple Podcasts 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 Connect with Chris Newsletter | Membership | Twitter | Instagram | LinkedIn Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Transcript

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0:00.0	Getting money and investing right can be overwhelming. I know, but the upside of financial freedom is so huge.
0:10.0	So today I'm going to break down 25 investing and personal finance rules of thumb that will make
0:15.8	managing your money simpler and more effective. From the rule of 72 for doubling your investments
0:21.5	to the 4% rule for early retirement.
0:24.8	These principles will help you make smarter financial decisions and grow your wealth
0:29.3	with a lot less stress.
0:31.8	Plus me and best-selling author Brian Feraldi are also going to cover
0:35.5	when it's important to break some of these rules. I'm Chris Hutchins, this is all
0:40.0	the hacks, a show about upgrading your life, money, and travel.
0:43.2	Let's jump into it right after this.
0:47.1	There is no shortage of information about how bad soda can be, but I love a good sparkling
0:52.2	beverage, which is why I'm so excited to share a new
0:54.8	favorite of mine with you, Dram, which I have loved so much that I reached out to see if
0:59.7	they wanted to be a sponsor and I'm excited they're a partner today.
1:03.0	Dram is unlike anything you've ever had.
1:05.0	Imagine a drink that's zero calories, zero sugar,
1:08.0	but tastes incredible because it's packed full of ingredients
1:11.0	made from real plants, not natural flavoring, which can sometimes
1:14.9	mean synthetic chemical flavoring also.
1:17.9	They have some amazing unique flavors like Cardamom Black Tea, which I love, not just because it tastes good, but it's also pretty good for
1:24.1	cardiovascular health.
1:25.9	Their citrus is crafted from orange blossoms and fresh citrus peals and tastes delicious,
	...

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