I’m 34 years old, and I’d like to find a good path to grow this money till I’m 65. Although I adore and am passionate about my business, I only receive $38,000 a year from it. That could be different if I relocate. Nevertheless, I lack the time and energy to watch over this money or use it to launch a side business. I am married, have a house, and my wife makes slightly more money than I do.
Many thanks to all of you. I know nothing about any of this. In my entire life, I have never possessed more than $3k at once.
Consider contributing to retirement accounts like a 401(k) or IRA to take advantage of tax benefits. Since your wife also has an income, you might want to discuss creating a joint financial plan that aligns with both of your long term goals.
I had a friend who started contributing to a 401(k) a few years ago and it made a huge difference for them.