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#The notecard how to
#The notecard full

īoth the book and image received criticism about the last rule, a social safety net, saying that it was more political than financial. Publishers Weekly said that while the book had an "admirable mission," the rules it advances "are too old and readily available in any listicle to be worth building a book around." It called the book "unsatisfying to all but the most unaware consumers".

Promote social insurance programs to help people when things go wrong.

Make financial advisors commit to the fiduciary standard.

Maximize tax-advantaged savings vehicles like Roth, SEP and 529 accounts.

#The notecard full

Pay your credit card balance in full every month.

The person on the other side of the table knows more than you do about this stuff.

Never buy or sell an individual security.Buy inexpensive, well-diversified mutual funds such as Vanguard Target 20xx funds.Max your 401(k) or equivalent employee contribution.The original index card, pictured above, has:

The book has rules about buying a home and insurance, topics they felt were left out from the first list.

#The notecard how to

They also include more "subtle" advice on how to choose and interact with a financial advisor. The book and index card also contain some "simple" advice, such as saving 10 to 20 percent of one's income, maxing out a 401(k), and not buying individual securities. Olen and Pollack suggest investing in diversified mutual funds, paying one's entire credit card balance each month, having a financial advisor commit to a fiduciary standard, and using Roth, SEP and 529 accounts. Pollack and Olen wrote The Index Card three years later, which Pollack compares with the original index card as commentary to the Ten Commandments. The image went viral, and was covered on many internet news sites. Pollack further said, "if you're paying someone for advice, almost by definition, you're probably getting the wrong advice because the correct advice is so straightforward." Įmails and comments on his blog asked for a real index card with financial advice, so Pollack jotted down nine rules in two minutes, took a picture of it, and posted it online. In April 2013, Pollack interviewed Olen about her book Pound Foolish, and metaphorically mentioned "that the best advice for most people would fit on an index card". The original image of the index card, posted to Pollack's blog