8 simple rules to maximize wealth—at any age

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8 simple rules to maximize wealth—at any age
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A few rules of thumb can cut through the confusion that often surrounds money decisions and help you build a solid financial foundation.

This article is reprinted by permission from NerdWallet. This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies.

The following guidelines for saving, borrowing, spending and protecting your money are culled from nearly three decades of writing about personal finance. 2. Save for a rainy day You may have read that you need an emergency fund equal to three to six months of expenses, but it can take years to save that much. That’s too long to put off other priorities, like saving for retirement. A starter emergency fund of $500 can be your first goal, and then you can build it up. While you’re saving, try to create other sources of emergency cash, such as a Roth IRA , space on your credit cards or an unused home equity line of credit.3.

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