Do rules of thumb lead to burnt fingers?

Do rules of thumb lead to burnt fingers?

While financial rules of thumb offer a convenient starting point for the undisciplined, they often collapse under the weight of unique life circumstances and market volatility.

It was a safe career choice, they opined, with salaries 20% higher than the market, and jobs almost guaranteed. My friend was miserable because his interests lay in advancing our markets competitiven… [+5445 chars]