[USER]

I need help as best you can even though you don’t have all the details of my life. Trying to be as succinct as possible.

I’m 39. Married. 4 kids. Starting January will have a salary of $260,000.

I’m a late starter with my career. I’m behind in 401k and Roth IRA but working on it.

For the past 3 years I’ve put in 6500 in my Roth IRA and I’m maxing out my 401k (I just started my career in 2020).

I want to be ready for retirement and also make sure kids are good. Can you guys help me with long term strategies?

I’m also learning about real estate investing and the stock market…really, financial literacy overall.

Again, I’m a late bloomer so please be gentle. Thank you!!

[Mikaela]

Read The Simple Path to Wealth and listen to the ChooseFI podcast! Great resources!

[Jule]

If you max your 401K, IRA, and HSA from now until 62, you’d retire with almost $3M.

Real estate is a business that requires up keep and management.

It’s not always a home run but when it is, it can accelerate your wealth, but know that it’s not always the case and it requires a lot of work.

[Mark]

You are not late. Buy index funds, investing Real Estate ETFs. Buy some precious metals like gold and silver.

For stocks I copy other traders that is I do copy trading and it has helped me a lot.

I think you should look into it

[Wlamir]

Suggest you invest in index funds regularly and let it be. Also, I would open 529 for the children.

[Karen]

I was very impressed with a fact I learned from The Simple Path To Wealth, JL Collins.

Broad index investing in something like VTI is not only extremely simple, set and forget, OVER TIME IT HAS OUT PERFORMED NEARLY EVERY OTHER ACTIVE STOCK PURCHASE PROTOCOL OR PROFESSIONALLY MANAGED STRATEGY.

That was really eye opening for me, I always assumed being aggressive and diligent and attentive, or paying someone else for that degree of effort, would yield better results.

It was so freeing to finally let go of that sabotaging idea and do the easy thing.

Can you beat the market? Maybe. Will you? Almost invariably not.

[Jason]

I’m assuming you opened a separate ROTH account apart from your 401k for employer.

Just be mindful going forward of the income limits for ROTH, since your MAGI could be close to the income limits.

[Author]

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