A few months ago I wrote a piece for a national magazine and was able to "interview" (via email and via their representatives), some of the top names in personal finance today and ask them what their best piece of financial advice was. Here's the response I received from Jane Bryant Quinn, the author of Smart and Simple Strategies for Busy People:
All of the best investments are the simple ones. If you’re shown a gee-whiz financial product with a lot of bells and whistles, you can be sure of two things: You don’t need it and it’s overpriced. You can get better results with something plainer and lower cost. What’s simple? Term life insurance. Automatic savings plans, like company 401(k)s. The mutual funds called lifestyle funds. A college savings plan bought directly from your state. Do I use these ideas myself? You bet!
For those of you interested, here's my best piece of financial advice.
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