5 “Rules” of Finance That You Can Easily Break – Episode 237

In the financial world, there are many “rules” that have become so ubiquitous that people are really reluctant to break them: Should you never take more than 4% out of your portfolio each year in retirement? Is it always best to wait until age 70 to take your Social Security benefits? These are just a few.

The problem with using the words “always” and “never” is that they assume everyone’s situation is the same. We know that to be completely false. Sometimes, it’s good – maybe even beneficial – to go against the grain and break some of those long-standing rules of finance.

Which of them can you (and should you) probably ignore? Find out from podcast host Johnny Dean and Rick “The Professor” Plum, CFP® on this week’s episode of Managing Your Financial Future!