- \r\n
- Rule No. 1: strive to save 10 to 20 percent of your income. <\/em><\/li>\r\n
- Rule No. 2: pay your credit card balance in full every month. <\/em><\/li>\r\n
- Rule No. 3: max out your 401(k) and other tax-advantaged savings accounts.<\/em><\/li>\r\n
- Rule No. 4: never buy or sell individual stocks\u00a0 and <\/em>Rule No. 5: buy inexpensive, well-diversified index mutual funds and exchange-traded funds.<\/em><\/li>\r\n
- Rule No. 6: make your financial advisor commit to the fiduciary standard.<\/em><\/li>\r\n
- Rule No. 7: buy a home when you are financially ready.<\/em><\/li>\r\n
- Rule No. 8: insurance. Make sure you\u2019re protected.<\/em><\/li>\r\n
- Rule No. 9: do what you can to support the social safety net.<\/em><\/li>\r\n
- Rule No. 10: remember the index card.<\/em><\/li>\r\n<\/ul>\r\n
Here is a version of the Index Card, adapted for India.<\/p>\r\n\r\n
![\"\"](\"https:\/\/srinivesh.in\/blog\/wp-content\/uploads\/sites\/4\/2018\/11\/oneslide.png\")
\r\nAll the financial advice that you need in India<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n The above list tries to stay close to the original version. And like the original version, it is self-explanatory to an extent. I plan to add a short explanation for each point in later posts.<\/p>\r\n\r\n\r\n\r\n
- \r\n
- Personal Finance Rule 1 \u2013 Save 30% of your income<\/a><\/li>\r\n
- Personal Finance Rule 2 \u2013 Pay your credit card bills in full<\/a><\/li>\r\n
- Personal Finance Rule 3 \u2013 Max out all forms of PF<\/a><\/li>\r\n
- Personal Finance Rule 4 – Boring is Better<\/a><\/li>\r\n
- Personal Finance Rule 5 – Don’t invest to just save tax<\/a><\/li>\r\n
- Personal Finance Rule 6 \u2013 \u2018Free Advice\u2019 is Expensive<\/a><\/li>\r\n
- Personal Finance Rule 7 \u2013 Buy a house only when financially ready<\/a><\/li>\r\n
- Personal Finance Rule 8 – Do not mix Life Insurance and Investment\r\n
- \r\n
- Avoid Endowment Plans \u2013 PPF gives better returns<\/a><\/li>\r\n
- NO \u2013 LTCG on equity does not make ULIPs better<\/a><\/li>\r\n
- Pension Plans \u2013 Why you should avoid them in India<\/a><\/li>\r\n<\/ol>\r\n<\/li>\r\n
- Personal Finance Rule 9 \u2013 Pay your fair share of taxes, and nothing more<\/a><\/li>\r\n<\/ol>\r\n
<\/p>\r\n\r\n\r\n\r\n
See Also<\/h3>\r\n\r\n\r\n\r\n
- \r\n
- Harold Pollack’s Index Card<\/a><\/li>\r\n
- The best financial advice on a single index card <\/a><\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"
Index Card for India The original Index Card for personal finance was published by Harold Pollack here: Index Card\u00a0 It became quite popular and the author co-wrote a book on it.\u00a0 In a great episode on Freakanmoics Radio, Pollack listed Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[4,7],"tags":[],"class_list":["post-286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gen","category-plan"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/comments?post=286"}],"version-history":[{"count":13,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/286\/revisions"}],"predecessor-version":[{"id":720,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/286\/revisions\/720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/media\/340"}],"wp:attachment":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/media?parent=286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/categories?post=286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/tags?post=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- The best financial advice on a single index card <\/a><\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"
- NO \u2013 LTCG on equity does not make ULIPs better<\/a><\/li>\r\n
- Personal Finance Rule 2 \u2013 Pay your credit card bills in full<\/a><\/li>\r\n
- Rule No. 2: pay your credit card balance in full every month. <\/em><\/li>\r\n