Finance Roll

1. Your housing debt should not exceed 28 percent of your gross income. Your total debt should be under 36 percent.

2. Invest for your future. Use your 401k, 403b, 457 and max out your IRA's. If you get a match on your 401k, make sure you are taking advantage of it!

3. Have a diversified portfolio. An old rule of thumb is take 100-age and that is the percentage you should have in growth types of investments. The new rule is 120-your age. I don't believe either. It depends on your age, risk tolerance and how much money you have.

4. You don't want more than 5-10 percent of your portfolio in one stock.

5. If you don't understand an investment, don't buy it. Know what you are getting into and how you are investing.

6. If you are not saving 10 percent, you are not saving enough. If you are looking towards retirement, women need to save at least 12 percent and men need to save 10% towards retirement.

7. Have liquid money. You want to have 6-12 months of money in a money market account as your emergency fund.

8. Buy insurance with the highest deductibles so that you are paying less monthly in premiums. But, make sure you have liquid money to afford the deductible if something happens.

9. Generally it is better to buy a car than to lease. But, don't buy a brand new car. Millionaires usually own and drive used cars.

10. Have you ever been pushed to buy an extended warranty on a product you purchased? Generally, not the best idea-usually a waste of money.

11. Keep good records. Keep your cost basis information, your taxes, know where your money is and where your accounts are.

12. Eliminate bad debt. If you have credit card debt you are generally living beyond your means. There is good debt and bad debt. Get rid of bad debt.

13. Know what you are spending. Have a budget and stick with it.

14. Put your possessions into good condition before you retire or go through a life change.

15. Stay in good health. Health insurance is the number one reason people do not retire.

16. Make sure your income exceeds what you have as expenses every month.

17. Don't let CDs automatically roll over. Make sure you are making the most on your money and have a plan. It's not just always the best rate in the short term (or long term).

18. Don't have a number of different IRA's or accounts. Consolidate. If you have an old 401k, roll it over into a Traditional IRA in your own name.