Good for you for facing up to something that a lot of people find a bit scary and overwhelming to think about. Sometimes it feels as if the small amount you may have available to invest now, isn't worth bothering with but it's not true.
Suze Ormon focuses a lot on financial tips for women. https://www.google.com/search?q=suze+ormon+tips+for+women&ie=utf-8&oe=utf-8&client=firefox-b
She
even has a podcast that you could listen to in the car or have playing
in the background while you do other things. https://www.podcastone.com/suze-ormans-women-and-money-show
If your husband has a company matched investment program at work, be sure and put as much as you can in that because the portion they match, is basically free money.
I was thinking of getting a Roth IRA since my husband works I can do that. What have uou guys done?
I have a pension plan at work that I've been paying into for about 32 years. My JW contemporaries said I'd never be able to use it but here I am, ready to take early retirement any time now because I didn't listen to them. It will pay me 65% of my highest wage for the rest of my life when I retire and when I'm gone, it will cover my wife for the rest of her life.
I also put the most I could into a "deferred compensation" 457(b) program that comes out of my paycheck before taxes. I found that because of the tax offset, you barely notice that it's gone. Once I begin using that money, I'll have to pay taxes on it but it will be at a lower tax rate because I'll be retired.
Each year when we'd do our taxes, we'd put the most money the IRS would allow us to invest, in an IRA. That way, instead of paying taxes at the end of the year, we'd get a pretty nice refund. For instance, this year, instead of getting a refund of around $200, we put around $11,000 in our IRA and will be getting nearly $2,000 back from the IRS.
I spent about 25 years doing jobs where the employer paid into Social Security but for the last 11 years I've been working in a job that has a Social Security replacement program. The idea is that if Social Security goes bust, the way they're predicting, this Social Security replacement will be there instead.
Historically when the stock market has a major downturn,it takes about 3 years for it to recover. I keep 1year of living expenses in a Money Market Account that has a guaranteed return, 2 years of living expenses in a Bond Account which are considered low risk. The rest I have invested in various Mutual funds.
The idea is that if the stock market takes a dive and I need my money, I'll have 3 years of living expenses to live on, giving it a chance to recover before I begin using my other funds.
My wife didn't work until our boys went into Jr High and then it was only part time. She is working full time now and has a pension plan that her employer pays into and she has her own IRA's etc.
I hope you get started investing with whatever minimum amount you are able to spare right now. You'll be glad you did even though it may seem like a pittance at first. Be sure and let the kids know what you're learning and let them see you being financially responsible and unafraid. It will give them a feeling of security and will be a good example to them in terms of being able to handle their own financial stability one day rather than being victims of whatever circumstance that may come their way.
