There quite a bit to get into. 39f and I am not sure where to begin with a starting a financially stable future at this late stage. Most of my adult life and my entire career has been within restaurant management. I climbed my way up and became quite good at my senior management roles. Where I am located (MI) most of these positions don’t have retirement packages or anything of the sort. My husband of 10 years (39m) has 401k through his work however the company has changed hands 2x over so there’s been some fluctuations with his account over the years and his alone could not support us in our older years. Last year, I stepped away from my management role so my husband could travel for work (the new owner of his company stated this was necessary for his continued role). Now I’m not sure where to start on stabilizing our future within our 1.5 income household. Additionally, we have 3 young children to be mindful of.
Any input on small contributions and a well laid plan for the years ahead?
Thanks so much
A financially stable future.. is it possible?
byu/Particular-Low-7233 inpersonalfinance
Posted by Particular-Low-7233
2 Comments
Sounds like you are asking about a framework for what to do with money.
Start with reviewing the Prime Directive in the PF Wiki. It will answer your question and many other questions you didn’t realize you should be asking.
* https://www.reddit.com/r/personalfinance/wiki/commontopics
Without knowing your finances…I think the broadest and easiest foundational steps are 1. (and yes this feels obvious but you never know) to first make sure that money out < money in, and 2. Have all the money you don’t immediately need in a HYSA. (You can further distribute it from here, but make sure it exists and you have a habit of making sure it grows)