Rule of Thumb

SEELEY LAKE – John, reading a financial magazine, might say to his wife Mary, "Honey, it says here as a rule of thumb, we should have an emergency fund set aside equal to six months' worth of household expenses. We don't even have an emergency fund, but we probably should be putting some money aside."

If that was perceived by Mary as a prelude to an unwelcome conversation targeting those expensive new shoes she just bought, she might deflect by saying, "Well, a rule of thumb certainly isn't anything to be ruled by."

Setting aside a possible impending argument between husband and wife, where do...