How much do you actually know about money and we will call that finances? Stop and be honest with yourself, because if you have a generic public education it is probably less than you think. When I started looking at my finances as a whole I was devastated at the incredible amount I did not know about money and finances.
It started when I got a notification about some changes to my company 401k, I had never looked at my 401k and the email had a direct link to the site. SO I followed the link to the company website, which was a portal to Fidelity. I was incredibly surprised because when I logged in to my account I found out that my previous company 401k had been rolled into a rollover IRA with Fidelity and so it was right there as well.
Up until this point a 401k was just some term they spouted off during a job interview, I had no idea I was supposed do anything with it. Money went out of every paycheck and that was supposed to be a good thing, a good company will match up to a certain amount. Turns out that when they rolled it over it just went into a money account, so for 6 years it sat there like a low yield savings account. It wasn’t growing or returning anything because I never did anything with it after it rolled over. Then I started thinking about 401ks and other retirement associated accounts I had from other previous employers and realized I had no idea what I had or how to get to most of it. I am still working on carefully consolidating mine and my wife’s various retirement accounts to one broker so we know where they all are and what they are doing. It is a tedious process, but one you should start if you were like me.
This has been a catalyst for me to become real with myself about my limited knowledge on investing, finances and money. Since this started back in January I have become more versed with these things. I have read multiple books, virtually attended a few lectures and classes, watched YouTube videos and listened to interviews. I have also taken control of all my own investments, purchased stocks during the recent lows while the price is down and invested in some other kinds of investments. I still am far from an expert and have a long ways to go on a complex subject. I am not offering financial advice.
What I am offering is the thought that as a man you should take charge of your own destiny including your financial one. Put in the time, like anything else invest in yourself first. Buy a book, start on YouTube or Audible and stop leaving you and or your loved ones future in someone else’s hands.
Be better tomorrow because of what you do today!
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