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Showing posts from June, 2017

Investing for people in their 40s

The last thing someone who is middle aged and hasn't begun investing wants to hear is that they should have started 10 years ago. Although they are a little late in getting started, it isn't too late. They still have a long term horizon for when they probably need the money for retirement, and that gives them a chance for making for lost time. Q: What are some strategies and methods every day investors should consider or ask when they are in their 40s? A: Contribute to your 401K at work if possible. It is a method of putting money away for your retirement and deferring taxes. Plus, many employers match a percentage of what you contribute up to a cap. The money is also being socked away before you have a chance to spend it, so it helps those folks that need help budgeting. If you don't have access to a 401k at work, you can start an IRA and depending on your income it could be tax deductible. Q: For those that haven't invested yet, how can they get started this late in t…