I want to save for retirement, help!?
I'm 35 y/o and have $0 saved for retirement. What would be the best way to get up to speed? I clear about $1,200.00 and spent about $800.00 paying bills, etc.
Public Comments
- 333 month into a roth IRA, put the rest into investment grade life insurance like a VUL.
- put your money in a savings account for now. start reading up on retirement and investing. choose a method that works for you i.e. stocks, bonds, real estate etc. take your money and go for it.
- If your employer doesn't offer a 401k, start by maxing out a Roth IRA every year. The advantage of a Roth is that when you go to withdraw money after 60 or so, the earnings are tax free, unlike a traditional Roth or 401k. If your employer does offer a 401k, participate just enough to get whatever match they offer, then throw the rest in a Roth. Also, buy a condo or townhome instead of renting if you can....tax free capital gains after 2 years of ownership is nice.
