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Your Money Manifesto: The Three Rules of Thumb!
Three rules of thumb
Subscriber Account active since. I don't believe everyone should live by rules of thumb , but they do have a purpose. As a fresh college graduate, I remember stressing out at the thought of balancing my frugal nature with the excitement of living in New York City and starting a new job with a bunch of people my age. I wanted to be responsible and save money for the future, but I also wanted to enjoy the present.
Rule Of Thumb
Ready to hear more? Earn, save, invest — you have probably heard or read this mantra in my book, articles, and talks. I strongly believe that everyone should become a successful lifelong investor, and have their money make money for them. As simple as the idea is, what really brought it home for me was a straightforward formula I like math, but I really love simple. It might be aspirational, and it may feel extreme, but if you can save half of what you make, each year of work buys you one whole year of retirement or vacation.
The English phrase rule of thumb refers to a principle with broad application that is not intended to be strictly accurate or reliable for every situation. It refers to an easily learned and easily applied procedure or standard, based on practical experience rather than theory. This usage of the phrase can be traced back to the seventeenth century and has been associated with various trades where quantities were measured by comparison to the width or length of a thumb. A modern folk etymology holds that the phrase is derived from the maximum width of a stick allowed for wife-beating under English law, but no such law ever existed.