I find myself in a position where I have a bit of money in the bank, and I feel like I’m missing out on some potential income by letting it sit in my savings account. I would like to start investing, but I really have no idea what to look into. I’ve tried googling some information, but feel like I end up getting lost halfway through.
Background: 30 y/o Male. Comfortable yearly income in a stable position. I currently contribute 10% to a 401k with a 3% employer match. After all of my monthly bills, I’m still saving around 1-1.5k (and that is without really being “careful” with what I buy). No debt besides a mortgage. We just purchased a new home, and after all renovations are complete I will still have about 50k in a regular savings account. We are expecting our second child in December, so my partners income isn’t really much at this point. Even if she opts not to work at all, we would be fine financially. No expected big purchases over the next few years. We live in MAssachusetts if that matters (not married).
Does anyone have any good sites or information to read that could help me get started with investing? Or should I just go see a financial advisor at this point? I’m honestly not even sure exactly what a financial advisor does. I’ve always considered myself to be financially conservative, and I don’t think I’d feel comfortable with any high-risk/high-return investments if that’s helpful. I just feel like I’m “wasting” money that could eventually be used to pay off my mortgage early or help pay for college for my children down the road. I’d like to save a very comfortable “emergency fund” just in case anything happens, but I’m not sure exactly how much it should be (i was figuring 20k just to be on the safe side).
Any advice would be much appreciated. Thank you!
Submitted July 30, 2018 at 09:29AM by Tzimiscekin https://ift.tt/2OqasiC
