I'm 39, I have no retirement started, had to move alot. What do i need to invest in for a retirement?

Question

My children have medical problems that caused me to move a few times, I'm not lazy...lol I decided to do two tours in Iraq and on my second tour in Afghanistan and this has helped me get out of debt. But I really need to start on a retirement, I wanted to know what I could invest in to help catch up...

Answer 1

A lot of people have suggested some nice things, especially the military guy. It would be up your alley.

I would also argue that getting into rental houses and real estate as a whole is intelligent advice. Supply and demand, and the supply of land sure aint growin.

I would like to tack on my own advice in terms of stocks and such. Roth IRAs are extremely important. You put in money that has already been taxed, and it goes towards your retirement. The money you get in retirement is tax-free from your Roth IRA. It is the king of retirement funds, arguably.

Beyond that, get into the S&P 500. Bonds are reliable, but in any 10 year period, bonds have lost to the percentage gains on your money provided by the S&P 500 index.

Get it. Scrimp and save a little, and you'll coast into retirement on the backs of your IRA, S&P, military benefits, and possibly a rental home or two :-)

Answer 2

39 is not bad, and its never to late, right? i started with zecco.....still use it, still very happy. only ones with no fee for stock trades, and no minumums.  it took me some time to see that most of my gains were lost to the fees i paid to actually buy stock and sell it....all the others will charge you fees for trading, but compare and see for yourself!

http://friends.zecco.com/r/a7a2877caab81...

Answer 3

the next civilian job you get - join their 401k program if they have one - if not, open an IRA and put as much as you can afford to - also start saving for emergency fund and kid's college expenses

Answer 4

1.  If possible, stay in the military long enough to qualify for a pension.  Military pensions a sure stream of income which are adjusted for inflation, a great benefit.  This would put a solid foundation under your retirement.

2.  Invest in the federal Thrift Savings Plan.  A lifecycle fund (like L 2030 or L 2040) would be a good choice of investments.

3.  When you leave the military, get a civilian job and take advantage of retirement accounts like employer-sponsored 401(k)s, IRAs, etc.

4.  Work long enough as a civilian to qualify for Social Security benefits.  If you get a military pension, your Social Security benefits would be reduced because of a law called the Windfall Elimination.  This law could reduce your benefits by as much as several hundred dollars (the maximum amount of the reduction is $356 in 2008 but  would be higher by the time you retire).  Still, Social Security is another certain stream of income that's inflation adjusted, so it's worth qualifying for if you can.

5.  Save as much as you can outside of retirement accounts (i.e., in aftertax bank accounts, mutual funds, etc.).  This isn't always easy, but the more you save now, the better your retirement will be.

Answer 5

depends on how much you have. IMHO, you should diversify - invest little on a lot of investments. hire professionals to help you put your money to the best investment vehicles. diversification is on of the best things you can do. there's lots of financial advisors  and most of them specialize in a particular field.

Answer 6

I would recommend opening a Roth IRA.  Knowing that you are already behind in starting your retirement plan, the last thing you want to worry about is taxes.  As for what to in invest in, you can invest in stocks, mutual funds, bonds, CDs, etc.  It all depends on how much risk you are willing to take.

I currently use Firstrade ( http://www.firstrade.com/ ).  I've been using them for years and have encountered no problems.  They offer no-fee IRAs.  Therefore, no setup, maintenance, inactivity, or termination fees.  I would definitely recommend you to check them out.

Answer 7

i think you can try overnight income investment. it more simple, workable and profitable.  

Answer 8

well, if you are military, you should look at the governments TSP - Thrift Savings Plan.  Good funds, and rock bottom expenses.  After that, or if the TSP is not available to you, you could open an IRA with Vanguard, Fidelity or TRowe Price.

Answer 9

A friend of mine was in the same situation.  He purchased a rental house cheap (housing market is prime to buy right now), and he rents it out covering his monthly expenses and gains a couple hundred every month over the top.  If you can do this a few times over you will have steady income as long as you live.  Just be ready to do your own maintenance.