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Parking_Goal_3301 t1_iuekmok wrote

Reply to comment by massalk in Do I need to find a new financial advisor? by massalk

It sounds like you ARE financially literate. Trust yourself and read things from reputable sources.

The max out IRA + 401K is good advice. I’m a little older than you you and doing a bit more high risk than moderate since I have time and it’s a god time to invest. If you don’t have dependents, I wouldn’t get life insurance or I’d just use whatever is offered through work. 1-2 years salary type of thing

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massalk OP t1_iuelchs wrote

I really think I am though. Whenever I read anything about finances, it doesn't make any sense to me. If it's not something medical, it's like my brain does not compute. I don't even know how I am a fully functioning adult with a good income.

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Appropriate-Safety66 t1_iuemjee wrote

To be fair, many medical professionals, including doctors, are not particularly good at financial matters.

Years ago, I read that doctors are very adept at falling for financial scams plus they are too embarrassed to admit when they have been scammed so they don't report it.

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massalk OP t1_iuen6g3 wrote

Yeah very understanndable. For nursing school, I didn't have to take anything besides basic econ. Everything else was science or social sciences related. I imagine it's similar for doctors. I really wish financial literacy was more of a focus for high school and college.

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Parking_Goal_3301 t1_iuemxsg wrote

Read “The Index Card” by Helaine Olen. She says everything you need to know about personal finances can fit on one 3 x5 index card. It shouldn’t be too complicated for most of us.

Too much complexity trips many people up and doesn’t make them smarter.

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massalk OP t1_iuenvgh wrote

Thanks for the recommendation! I just want financial freedom and I really want to be able to not have to work as a nurse full time. It's a hard job in multiple ways.

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