Conventional investing wisdom, should i disregard

[midas]

Sniper-

Very good advice but I'm going to give it a few tweaks:

1A - I'm assuming he has whole life insurance since he called it an "investment". Dump the whole life for term life and free-up some cash flow. Whole life is a sucker bet!!

2B - Pay off all credit cards - there is no better short-term investment than paying off credit card debt.

2C - Learn to live without credit cards - borrow only for homes and cars.

7 - If he doesn't own a home - buy one - a home is generally a good investment especially in a top 20 market.