Financial planning can be complicated. You have to know details about taxes, about investments,

about insurances, budgeting, and a lot, a lot more. And because of this, we try to look at this

big, confusing thing called finance and create some rules of thumb. Now, some of these rules

of thumb are helpful, but many of them actually turn out to be counterproductive. So today,

what I want to do is I'm going to walk you through six rules of thumb that you should avoid and I'm going to share with you what you

should look to do instead. This is another episode of Ready for Retirement. I'm your host, James Knoll,

and I'm here to teach you how to get the most of the life with your money. And now, on to the

episode. Finances can be hard.

On top of just the financial things you need to know, there's also the non-financial considerations

and there's the application of even if you're the smartest person in the world with

these financial topics, how do you actually apply them in different ways and in different

situations?

That's what we're going to cover today.

Because if you

look around, it seems there's so much that you should be doing or so much that you shouldn't

be doing, and it can seem impossible to fully wrap your heads around it all. But because our brains

don't like this chaos, our brains don't like just acknowledging, hey, this is complicated and

there's nuance to everything. Our brains try to create some sense of order.

That's what we do across the board in all different types of disciplines.

And in doing this, we sometimes cling to what you can call a rule of thumb.

And some of these rules of thumb are good, but many aren't.

So in today's video, we're going to go over six rules of thumb that I believe you should

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