21 best money tips ever

Some of the nation's leading business owners, investors, and thinkers share their thoughts on rebuilding your wealth.

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4. Retire your debt before you retire
Retire your debt before you retire
Jane Bryant Quinn
The dean of personal-finance columnists and author of "Making the Most of Your Money Now"

Best advice I can give: Many people are now going into retirement with debt. So how about this for an old-fashioned idea? Pay off your mortgage before you retire if you want financial safety and security. There is bankruptcy among people in their seventies and eighties who had a lot of debt that they couldn't carry when the paychecks stopped.

Best advice I ever got: In the mid-1970s I met Vanguard founder Jack Bogle, who was calling up reporters to get them to write about an index fund. I had lunch with him, and he showed me studies and materials, and I said, "This can't be true -- actively managed mutual funds have always dominated."

But I took his stuff with me and called him a few times about it, and suddenly a light went off. And of course since then an S&P 500 index fund, over time, has done better than managed funds.

NEXT: Save (but don't invest) like me
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Last updated May 04 2010: 4:23 PM ET
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