1 Thing Congress Finally Did Right

Congress raises the debt ceiling. However, the votes were far from drama-free.

Feb 22, 2014 at 3:02PM

Go ahead and exhale, markets. Both the U.S. House and Senate voted to raise the debt ceiling. Years ago this sort of vote warranted little more than a passing mention. But after three solid years of brinkmanship (and a government shutdown), the "fever" appears to have been broken. For now.

Meanwhile, the Dow Jones Industrial Average (DJINDICES:^DJI) and S&P 500 (SNPINDEX:^GSPC) have largely shrugged off the event. In the video below, analysts Mike Klesta and Dan Caplinger discuss the future of the debt ceiling and whether investors should care.

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Dan Caplinger, Mike Klesta, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

A Financial Plan on an Index Card

Keeping it simple.

Aug 7, 2015 at 11:26AM

Two years ago, University of Chicago professor Harold Pollack wrote his entire financial plan on an index card.

It blew up. People loved the idea. Financial advice is often intentionally complicated. Obscurity lets advisors charge higher fees. But the most important parts are painfully simple. Here's how Pollack put it:

The card came out of chat I had regarding what I view as the financial industry's basic dilemma: The best investment advice fits on an index card. A commenter asked for the actual index card. Although I was originally speaking in metaphor, I grabbed a pen and one of my daughter's note cards, scribbled this out in maybe three minutes, snapped a picture with my iPhone, and the rest was history.

More advisors and investors caught onto the idea and started writing their own financial plans on a single index card.

I love the exercise, because it makes you think about what's important and forces you to be succinct.

So, here's my index-card financial plan:


Everything else is details. 

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