Hello, I'm curious if anyone has some outlets that are simplified/watered down on financial planning. Books, general advice, sites, etc. I know very little on how stock market, investing, retirement, etc work and I really want to better understand it so I can prepare as best I can.
Background- I am 26years old male. Married. Two kids (young, 2y and 4m). Homeowner 106k mortgage. One income (50k roughly, hourly). Live in California. 15k debt, credit card, medical. (apart from mortgage). Company offers 401k, matches up to 6 percent which I match (so I'm getting 12% total). Virtually no savings (just starting to actually save), and no inheritance in the future.
I'm not looking to know everything but I would like to know the basics and where I should start. I'd really like to get feedback on a book that is good for beginners. (as I comprehend better from reading one source that follows one train of thought). I've started one book already, read stuff online and also here on Reddit. But I start to get lost when they delve into things I don't fully understand, such as; portfolios, compound interest, stockmarket, etc. Some basic questions I'm looking to get answered and to know the 'why' behind the answers are: Should I contribute more than the match in my 401k? Should I be more involved with my 401k? Is it worth starting a second plan, Roth IRA? What is a Roth IRA? How much should I save and what goals should I have with my savings, apart from emergencies? Should I invest in stocks as well?
Thanks in advance for any and all input. Like I said, I'm trying to read from different sources but have yet to find something comprehensive at an introduction level so I can better understand the lingo/jargon assisted with finances in general. How did you come to understand finances and what helped you along the way?
Submitted May 20, 2017 at 04:55AM by MoreThanAshes http://ift.tt/2ro70wx
