Hi Folks,
I am 35,physician, but have only been working at a real job for the last 2. Me and wife who is also in the same profession, different speciality are blissfully ignorant about finances, investing and planning for retirement.
As a result inspite of our relatively high incomes, we have nothing to show for assets other than a modest suburban home (with very little equity in it yet), 401K plans, modest life insurance- whole and term and some cash sitting in the bank earning 0.01% interest!
For the last 2-3 years just based on logic and need to decrease our debts, we have aggressively paid off our loans, CC debts etc. I thought it was the right thing to do and we both feel good about it.
Both of us live within our means. We drive a Toyota and a Nissan. I have some expensive hobbies - HiFi Audio, Woodworking, Ink pens to name a few. She has no time or penchant for such things. She likes to spend on vacations and occasional dining out. We have a 2 yr old and and another on the way.
We both need to get a good accountant. The guy who does our taxes (since residency days is not upto the game). I have a few referrals and am working on it.
I really want to learn more about building wealth/assests. I have been through 30+ years of excellent education but am illiterate when it comes to Money. As a result I am afraid of making stupid fiscal decisions/commitments.
Please direct me to credible resources - websites/books/rags/ and courses that will help me learn. I am thinking of joining one of Dave Ramsey's online courses, but am concerned that its too general and too focused on paying off debt.
Any other tips/advice and thoughts will also be appreciated.
I am 35,physician, but have only been working at a real job for the last 2. Me and wife who is also in the same profession, different speciality are blissfully ignorant about finances, investing and planning for retirement.
As a result inspite of our relatively high incomes, we have nothing to show for assets other than a modest suburban home (with very little equity in it yet), 401K plans, modest life insurance- whole and term and some cash sitting in the bank earning 0.01% interest!
For the last 2-3 years just based on logic and need to decrease our debts, we have aggressively paid off our loans, CC debts etc. I thought it was the right thing to do and we both feel good about it.
Both of us live within our means. We drive a Toyota and a Nissan. I have some expensive hobbies - HiFi Audio, Woodworking, Ink pens to name a few. She has no time or penchant for such things. She likes to spend on vacations and occasional dining out. We have a 2 yr old and and another on the way.
We both need to get a good accountant. The guy who does our taxes (since residency days is not upto the game). I have a few referrals and am working on it.
I really want to learn more about building wealth/assests. I have been through 30+ years of excellent education but am illiterate when it comes to Money. As a result I am afraid of making stupid fiscal decisions/commitments.
Please direct me to credible resources - websites/books/rags/ and courses that will help me learn. I am thinking of joining one of Dave Ramsey's online courses, but am concerned that its too general and too focused on paying off debt.
Any other tips/advice and thoughts will also be appreciated.