In retirement planning, think of rules of thumb as easy to calculate guides that help you steer one way or another with your plans. They are basically a number-based form of a heuristic ...

A rule of thumb is a heuristic guideline that provides simplified advice or some basic rule-set regarding a particular subject or course of action. It is a general principle that gives practical ...

Like anything, the rule of thumb is the starting point that works for many financial situations, but not for everyone every ...

Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. Almost everyone uses heuristic techniques. We use them every day in ...

A heuristic method is particularly used to rapidly come to a solution that is hoped to be close to the best possible answer. So, in other words, a rule of thumb. But whether you use the fancy or ...

Now, that’s what I call efficiency! Recognition heuristic Another powerful rule of thumb—often used intuitively—is the recognition heuristic. As indicated by the name, this decision rule ...

The availability heuristic, for instance ... After all, the best financial rule of thumb is to think before you act. Also Read: The foundation of successful investing isn’t intelligence.

Merriam Webster defines a rule of thumb as: (1) a method of procedure based on experience and common sense; (2) a general principle regarded as roughly correct but not intended to be ...

It's just as important to manage your savings wisely. To that end, you may be inclined to follow the 4% rule. It's one that ...

Now, that’s what I call efficiency! Recognition heuristic Another powerful rule of thumb—often used intuitively—is the recognition heuristic. As indicated by the name, this decision rule ...