For anyone who frequently reads my blog, you probably know that I am a big fan of Harry Browne. I am a strong advocate of his permanent portfolio investment strategy that he laid out in his book Fail-Safe Investing.
For today's post, I am simply pointing out a piece that was adapted from his book Fail-Safe Investing. It is called "The 16 Golden Rules of Financial Safety".
Like most of the advice that Harry Browne offered, I think these 16 rules are great to follow, or at least to consider when making financial decisions.
The only thing I would like to add to his commentary is on rule #7, which says "don't use leverage". I am an advocate of investment residential real estate if you are in the right situation. In this particular case, I think it is acceptable to use some leverage, if used wisely. For this rule though, I believe Harry Browne was suggesting that you not borrow money for investing in things like stocks or bonds, or even gold.
Enjoy the reading and I hope it helps you in your financial decisions.