Hello all – I am about to turn 30 years old in a few days. I have never been someone who truly was financially literate really. Don't get me wrong, I have very little credit card debt, have about 12k in savings and no student loans, and know to some what budget (although I don't follow everything perfectly)
However, I have barely anything in retirement and no investments. What should I do to secure my financial future, I really don't know how to invest or anything. should I do a roth ira? Any guidance on next steps will be great, thanks!
What should I do for next steps towards my personal finance?
byu/Fortune_jah4478 inpersonalfinance
Posted by Fortune_jah4478
1 Comment
Take half of your savings and dump it in a Roth IRA or max out a company matched 401k. Set up an auto deposit into that account and forget about it, or better yet automate a purchase in VOO or some other ETF. Make sure to reinvest all dividends.
Compound interest will do the rest over the course of the next 30-40 years.