Ten simple rules for financial survival

Ten simple rules for financial survival
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Ten simple rules for financial survival

by Tony Novak, CPA, MBA, MT     revised September 4, 2015

  1. Create a mindset that your financial success is determined by your own actions, not by the government or the economy.
  2. Stay focused on keeping your job or business secure as possible. Make certain that the lifeblood of your financial security is not pushed out of focus as a result of life’s distractions.
  3. Continue to vigorously trim bills and expenses in order to have some surplus money for savings. Adopt a “whatever it takes” attitude toward forcing personal savings.
  4. Build emergency funds in a bank account.
  5. Contribute to social security and retirement savings plans.
  6. Invest in index funds and avoid the inevitable downsides of market timing, forecasting and stock picking.
  7. Do not react to the news and emotions of others.
  8. Make investment decisions based only on your life’s timeline of events, not how you think the market will perform.
  9. Ignore day-to-day financial news and your current economic situation. Focus on long-term goals.
  10. Ask for help when you need it. It is no longer realistic to expect in today’s world to solve all of your financial challenges without occasional professional help and the emotional support of family and friends. Staying “stuck” too long has a serious long-term impact on your financial success.


Opinions expressed are the solely those of the author and do not represent the position of Freedom Benefits or any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent advisor under the trademarks “Freedom Benefits“, “OnlineAdviser” and “OnlineNavigator” and is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak may work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to the companies listed on this site and for other commercial companies.

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