For the first time in my life, I can save big hunks of money, but sadly I'm the financially illiterate son of a red-necked farmer. Where do I start?

Hello InvestorsHub!

I started a small business a few years back, and its been pretty successful. I went through my life as soon as the money started rolling in, and cleaned a bunch of stuff up:

1) Paid off mine and my wifes credit reports and student loans

2) Paid off both of our car notes and own both of them outright

3) Paid back all our debts, public and private

4) Started paying all my bills with a dedicated bank account that has 3 months of bills in it. (My safety net)

5) Filled my house up with all the amenities and tools that my wife and I have been wanting for the last 10 years.

Now that all my ducks are in a row, its time to start hoarding some coin for our future, but the problem is I have absolutely no idea what I'm doing. I watch financial news reports on CNN and MSNBC and I swear to god they might a well be speaking in Sanskrit. I looked around online and found a billion different people all saying they know the secret to investing, and I cant tell the shylocks from the con men from the legitimate advice.

Where do I start? Where do I go to learn how to manage my retirement at the age of 40? I know I should have figured this out years ago, but I was dirt broke and living paycheck to paycheck back then, and this is the first time Ive ever been anything but a dirt poor farmer.

Any suggestions? I have about $5000 every 60 days I can stash and Id like to make it grow.

Thank you very much.

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13 Answers


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