In this short video, Warren Buffett offers his best personal financial advice. It’s two-pronged: to get and stay out of debt, especially credit card debt; and to buy index funds and keep doing so regularly over the long-term. The first part is absolutely spot on. Indeed, much of the financial crisis which began in earnest in 2008 is the result of the overuse and misuse of debt. However, the second part has truthiness, but isn’t necessarily quite right. To be sure, the vast majority of people would be much better off than they are now if they would regularly buy and hold index funds. But that isn’t necessarily the best alternative, as I explain here and here. Moreover, at the risk of being too cynical, Buffett has an interest in maintaining his “Oracle of Omaha” image intact. If he allows that ordinary Joes and Janes might outperform index funds with good advice and proper management, his mythic status as the exception to the rule might be diminished. Even so, enjoy….