Question : What is good retirement plan,401k or mutual fund? I have no plan and am 45 yrs old.?
I work full time, make $13 an hour, have no kids and am single. I have no retirement savings at all started and need to start with some kind of plan.
- asked by mcrd.greg
All Answers:
Answer #1
Can only have 401k if company offers so IRA is itfor you. Key is not the plan but what you put init. No bank cds & the like. No guranteed incomecontracts or annuity. You have the time forequities. ADX & PEO two closed-end funds form acheap perfect base to build on. Build out theportfolio to incl international exposure & thelike yr by yr. Key is you have to start now. Willnever catch up if you fail to. schwab.com has allthe resources + feel free to contact me viaanswers if need more info.
- answered by vegas_iwish
Answer #2
Well your employer has to offer a 401 if yo wantto go that way...nice and easy money, comes out ofyour check before you even "see" it.But if no 401then it's time you got some IRA's under yourbelt...if you got some savings you can put $ 4000.into an IRA..( Traditional ...if you end up"paying" at tax time....ROTH, if you don't gethurt too much at tax time)So.. you know how to usea computer, you can go to an outfit like Fidelity,or E-trade...and open an account on-line....thendo just a little reading about " mutual funds" atyahoo/finance or Kiplinger's website.........first- time around get into something calledbalanced....may have some " safety" aspects toit...All this reading and prep stuff only takes afew days out of your life...take the time...youwon't regret it in 20 years.Anything you don'tunderstand or have trouble with, ASK again..thereare a few good people answering here ..you'll dofine.P.S. You can certainly start with less thanthe $ 4000. ...but I think that's the most you canadd for a few years.
- answered by jebediabartlett
Answer #3
That's a very important question. {This answer isjust a start to your question. You should learnmore about investing to really get a thoroughunderstanding of your retirement options.}ANSWER:You should probably start by looking at yourcompany 401k retirement plan. The plan istax-deferred (you don't pay taxes on yourinvestment gains until you pull the money outduring retirement) and they may offer a "match"(for example, you put in 3% of your income andyour employer "matches" with an ADDITIONAL3%).Your 401k will offer various mutual funds toinvest in. See if your employer offers advicethrough an advisor to help you decide which fundsto go into. They also may be able to create asimple investment plan for you.Hope that helpsout! And remember: try to save 10% of your incomeeven if you start out with only 2-3% in thebeginning.
- answered by RON P--"RPadvisor.com"
Answer #4
Honestly, ... try this.Visit swisscash.netI am aninvestor with them and have a US$50K portfoliothere. I'm getting paid every month on time aspromised and guaranteed. The average returns are20% per MONTH!You can recover your initialinvestment amount within 8 months and then it'sprofits on the run from there.Read thedetails...it's easy to understand.It's not anMLM...nothing to 'market'. You can just be aninvestor and reap ur returns which are guaranteedas stipulated.You can visit my financial siteprovided by them atwww.swisscash.net/sgamk1632202There are alot ofnegative blogs and people tagging it as a scam.Iknow what has happened. There were reports that SCinvestors scammed others...but I wonder why thecorrected newspaper reports are not beingcirculated. It was never a SC involvement but someclowns scamming others by encouraging them toinvest with some Swiss Union Bank. Anyway, hellwith others. SO far there has been no complaintfrom a single SC investor that he/she did not getpaid as guaranteed.By the way, I am in touch withsome senior consultants of Swisscash and I mustsay, they are serious dynamic professionals andI'm confident they will be profitable for at leastthe next few years.I started with $1K initiallyand then after my confidence with them, I have nowincreased to $50,000.Best regards...Kaz
- answered by A M K
Answer #5
The best retirement plan is Real Estate. Thinkabout it, you can use your 401k to buy it but youcan't use real estate to match your 401k. You willmake more money in a year with your real estatethan you would with your 401k. You have a greatincome flow already. Learn to invest in realestate. Make your net worth more today than youplan to in 5 years. Contact me.law_edavis@yahoo.com. I'd be glad to explain whatI'm talking about. at this time in your life it'sto late really to do the 401k. you won't see whatyou're trying to accomplish with in 5 years. Read Rich Dad Poor Dad What the Rich Teach their Kidsand The Poor and Middle Class Don't. It's goodsimple easy read that will go over what I'mtelling you.
- answered by Lawrence D
| 
measure and fulfill your financial needs
