You’ve heard it before: “rules are meant to be broken.” But what about financial rules of thumb? Are they all just guidelines that you can break when you want to?
This video breaks down five of the most important - and often ignored - financial rules of thumb. From the 50/30/20 spending rule, to how much emergency cash savings you should have, this video will teach you how to make smarter choices with your money!
0:00 Five financial rules of thumb (and when to break them)
0:57 50/30/20 rule
2:22 Six month emergency savings
4:13 Age rule for investing
6:26 4% rule
7:49 How much life assurance do you need?
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Martin Bamford is an award-winning Chartered Financial Planner, Fellow of the Personal Finance Society and Director of Client Education at Informed Choice. He’s author of three bestselling personal finance books and co-author of Harriman’s New Book of Investing Rules.
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***Important Disclaimer***
This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!
The value of investments can go down as well as up. Past performance is not indicative of future returns.
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