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Is there a rule of thumb when allocating attributes in to health?
End Game, Tanks should be around or near 30,000. PvP does provide some boost, so raw numbers can be lower. For regular content, I find around 20,000 to be enough to survive the nasty one hits that some bosses can put out. Remember you have Food that can boost your attributes, so it does not all need to come from Attribute Points. Glyphs and Gear can help with the Attribute Balance too.
For Leveling? I put little to nothing in Health on most characters. One I have 10 points in health, the rest in Magic
Enjoy the game, life is what you really want to be worried about.
PakKat "Everything was going well, until I died"
Gary Gravestink "I am glad you died, I needed the help"
If your sorcery get the shields they help majorly at vet levels. get your provisioning up mine gives extra 3000+ in both health and magic. I have really good healer with me in dungeons and between that shields and food I do really well
Some starter players spend all in health for survivability ... doesn't really matter how early on, you can respec for a gold fee in game.
Everyone knows the phenomenon of trying to hold your breath underwater - how at first it's alright and you can handle it, and then as it gets closer and closer to the time when you must breathe, how urgent the need becomes, the lust and the hunger to breathe. And then the panic sets in when you begin to think that you won't be able to breathe - and finally, when you take in air and the anxiety subsides...that's what it's like to be a vampire and need blood.
Francis Ford Coppola - BS Dracula: The Film and the Legend
Basically what the other posters said. Put enough points in to survive, but if you're running around in game and feel you can kill stuff before it really hurts you or you simply don't die very often, then you can stop spending points on health and drop them all into magicka. You can always respec later.
5 stamina or magicka per 1 health has been working for me since level 1.
You want to kill your enemies before they kill you, and having plenty of stamina/magicka will help. Nothing sucks worse than running out of gas against an enemy who's down to 1% and you have nothing to hit them with but a butter knife or wooden stick.