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Everyone these days is concerned about making the best financial decisions and the wisest investments, whether it be in real estate, the stock market, or a private retirement portfolio. 

But with the changing economy, the standards and guidelines for saving, investing and debt management have also changed.  These new guidelines will help determine the ability to invest safer, manage savings for retirement, or provide opportunities for current and future real estate purchases or investments.

First, save at least 15% (and ideally 20%) of your income for long-term goals.  The old rule was 10%, but that originated when people could count on pension plans, shorter retirement periods, and better market returns.

Second, keep your debt-to-income ratio under 30%.  This is down from 36% so that more cash flow can be directed toward emergency and retirement savings.

Third, invest no more than 5% of your portfolio in company stock or any single stock.  The old measure was 10%, but it is now safer with more diversification.

Fourth, look at refinancing when rates are one percentage point lower than your rate, not two, as in years past when closing costs were higher.  But be sure to do the math - you should plan to live in the house for at least as long as it will take you to pay off the closing costs and fees with the reduction in payment, which is usually a few years.

Fifth, to figure out how much of a nest egg you will need for retirement, insert your ideal annual income into this formula:

                        _________   X  30

Subtract any pension and social security income that you will get first.   This is up from the previous rule of 25 because of increased longevity.

Sixth, keep discretionary spending (clothing, dining out, movies) under 20% of your take home pay.  Before, you could play with up to 30%, but average debt obligations have risen.

Last, to determine the allocation of your portfolio into stocks, do this math:

                          110 - (your age) = (% in stocks)

The old formula subtracted your age from 100, but rising medical costs and increasing life spans necessitate being more aggressive. 

Following these guidelines can help to attain financial security but everyone's situation is different, so using even one or two of these rules can only lead to a better financial future!