I’ll preface this with - I am new to saving and new to being a responsible adult. I’m 35, married with two kids. I have worked for almost the last 10 years to get done with school and get a decent paying job. I finally have my license as a therapist and I’m working as a 1099. I am currently bringing in around 80-85k gross, I am paying quarterly tax payments and need to start saving for retirement.
I have not really worked consistently very much, as I’ve been home with my kids - so I have no retirement saved yet. My husband brings in a net of 85k and has a full retirement from the military when he retires in 2028. Right now, I’m focused on paying off a lot of debt accrued in the past 5 years - contributing around 3k/mo. I’d like to start saving for retirement but have hardly any ideas as to how to start doing that as a 1099 without an employee plan available to me.
Any recommendations on the best way to save for retirement if I’ll only be able to contribute 1k/mo while I pay off debt? We currently have emergency fund of 6 months in a HYSA and about 7k in a fidelity account my husband manages.
Submitted April 18, 2024 at 10:47PM by CheapHippo https://ift.tt/d8nkiqT
