Hello and thank you in advance for your time in reading my long post.
I have just entered my 30s and have finally mustered up the courage to ask for investing / financial growth help.
I graduated college 5 years ago with an architecture degree - an educational route leaves you with a plethora of knowledge often interweaved between many different disciplines, industries and professions, but at the same time with unfortunately absolutely zero insight on money, finances, business management etc. It is no surprise that some of the most famous architects and designers have died without a single cent in their pocket or completely in debt.
As all students, I came out of school with loans, and dove straight into the workforce, focusing on paying off my debt while also financially helping to taking care of my parents; paying back for some of their grand sacrifices in sending me to a top college with minimal loans compared to some of my peers (not that we had money, but rather to them being extremely frugal, well planned and cautious when it came to how money was spent). From that sort of upbringing, came the well-grounded principles of “not using credit cards, or accumulating any additional debt, paying for things in cash, making payments on time for anything, your car is a tool not a luxury for the sake of showing off etc.” Thanks to this, I have paid off my loans, I have never had a car payment or any other kind of payment (have always bought used and only cash), have 2 credit cards that I will use when necessary or to “capitalize” on their different points system) and have managed to save as best as I could.
All of this has been great and it has served me well, being just me. However at the start of the year, I got engaged and shortly after moved in with my fiancé leaving my single life behind and moving into the next chapter of thinking about a future family etc. My upbringing has served me well, but hasn’t taught me how to grow financially beyond that. Think “Rich Dad, Poor Dad”, its always been the poor dad mentality in being cautious, and saving, and not doing much to grow outside of that.
With Covid-19, I thought it would be a great to spend the time at home to learn about investing, or ways to make money grow. My goal is not to get filthy rich, I find no meaning in that, nor is it to retire in 5 years, I actually find enjoyment in my work and the duty I have to the community. I just want to become better and learn new money habits and knowledge that I can hopefully pass on to my kids; to be more than my parents passed on to me.
I know the best thing would be to seek mentorship but I have found that to be so hard for my generation, especially in this subject, and of-course social distancing doesn't help at all. I have also turned to financial institutions and their departments but I have yet to meet a trustworthy one without their own agenda to push.
So I am knocking on Reddits door, and the wonderful community here, asking for any feedback regarding where to begin my learning experience on investing/money growth? Books? Online programs and classes? More college? What is a good "how-to-manual" meaning a guide that not only explains the different kind of investing and the terms, but also explains how to set it up, what website or app to use? how to set up the account? how to use the interface etc. I understand the question may seem too loaded or too broad or redundant, and trust when I say that have done much research reading old threads. Theres alot of suggestions on reading Warren Buffet or the other greats, which I think its great but too advanced for someone just starting to learn the basics. Some books i have seen as suggestions have been: Boglehead's Guide, Intelligent Investor, Neatest Little Guide to Market Investing. What are your thoughts given that I have wasted quiet some tome and starting now? What are the pros and cons of these books/programs or others you might suggest? What is your personal experience or expert knowledge?
Your time and help are greatly appreciated and if proven to be helpful, I will find away to pay back.
Thanks again!
Submitted April 25, 2020 at 08:39PM by underthecitypg https://ift.tt/3ayso4A
