So a bit of backstory - grew up in single parent household and didn’t have much. Tried really hard in life to climb out and now live in a lower cost area and bringing in a little over 200k. My mother doesn’t know much about investing or preparing for retirement. I sadly was not taught this stuff in school. I don’t know anyone that knows about this stuff. I’ve tried in the past to google/downloaded educational apps and find myself completely overwhelmed attempting to understand investing; this apparently is not my strong suit and does not come naturally to me.
But I keep hearing I should invest asap because it’s all about “time in the market”. I’m now 30 and bought a house and have a healthy emergency fund and feel like now is a good time to start moving beyond just my 401k through my company and my emergency fund.
I could probably put $500 -1k a month towards some other type of investing to start with and see how my monthly goes. Problem is - I’m a financial dolt and don’t know what to do!
When we bought our home, the loan officer was previously in financial planning. We talked about it some and he suggested something called a Joint Investment Account through someone like fidelity, and to look for Mutual Funds, specifically a money market mutual fund (I think, whatever that means).
I tried to go on the website for Fidelity and am embarrassed to say I got overwhelmed and completely intimidated. And since this is my livelihood, I’m terrified to make a mistake.
Can I just pay a financial person to literally sit there and baby walk me through setting the above up? Or does fidelity themselves help with this? Where should someone this helplessly lost start?
Thank you 😭
Submitted October 28, 2023 at 09:23PM by ImTryingGuysOk https://ift.tt/yVA9txP
