Joe Dominguez rules for investment

Joe Dominguez, author of Your money or your life - Joe Dominguez and Vicki Robin, gives these basic rules for capital investment

Your capital must produce income.
Your capital must be absolutely safe.
Your capital must be in a totally liquid investment. You must be able to convert it into cash at a moment’s notice, to handle emergencies.
Your capital must not be diminished at the time of investment by unnecessary commissions, “loads,” “promotional” or “distribution” expenses (often called “12b-1 fees”), management fees or expense fees.
Your income must be absolutely safe.
Your income must not fluctuate. You must know exactly what your income will be next month, next year and twenty years from now.
Your income must be payable to you, in cash, at regular intervals; it must not be accrued, deferred, automatically reinvested, etc. You want complete control.
Your income must not be diminished by charges, management fees, redemption fees, etc.
The investment must produce this regular, fixed, known income without any further involvement or expense on your part. It must not require maintenance, management, geographic presence or attention due to “acts of God.”