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I have been watching and reading your inspiring, wonderful stories about meeting your goals for some time. I love reading them! Although I will admit I do feel pretty discouraged trying to finally be able to start saving now, as a single mom, approaching 50.
Sometimes I read posts here and don’t even understand what they mean- I’m embarrassingly uneducated in this area of life. I grew up in a lower middle class household, sometimes with very little food to stretch.
I didn’t learn about growing assets from my hard-working parents. I want to learn and try to break the cycle for my kids, but I need to start with the basics.
Does anyone know of any resources for people in my shoes? Where to start, what kind of financial advisor to find, etc.
Websites? Podcasts? to help me understand more?
WallaceDave Ramsey “baby steps”
The Money Guy “Financial Order of Operations”
JL Collins book and many interviews on YouTube.Don’t be discouraged. I started getting serious about money and saving at age 50
You can do this!!
KimI love the “ choose fi “ podcasts . The Ramit Sethi podcast “ money for couples “ has some very good ones and I know it says for couples but there’s some basic info in there for everyone
IreneHer Money and So Money podcasts are both very good with female hosts who cater to people without a ton of prior financial knowledge.
SarahRead “Total Money Makeover” for budgeting and basic management of your finances. Then read “The Simple Path to Wealth.” Then listen to ChooseFI podcast.
It will all come together and make sense.
TJAside from chosefi I also really enjoy the How To Money podcast. I’m fairly new on my journey too, I understand what you mean about things sounding confusing.
My recommendation would be to stick with it even when things don’t make sense, one day it will start to click.
JaneStay away from financial advisors until you’ve built substantial wealth. You can educate yourself easily for free by reading books, listening to podcasts, etc.
In the meantime, trim expenses and start saving. Save as much as you can, which is likely to be more than you expect.
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