I am 55 years old and I have no retirement account. Is it too late for me to put money back to have a little nest egg and be able to up my income?
Answers | 2
Jo Ann, it is never too late! If you are employed and have a 401(k) or 403(b) plan with a matching contribution you should start there! If not, you can save into an IRA or a ROTH IRA each year if you have earnings.. If you have a ER plan you can do that AND an IRA depending on your income level. I suggest you find a fee-only investment adviser/CERTIFIED FINANCIAL PLANNER in your area to assist you in making these decisions. Best wishes!
A better QUESTION would have been “How Large of a Next egg do I need to generate $X.xx in retirement income that would last for up to 30yrs...