im 35 need a retirement plan have nothing saved now whats the best plan for me?

Question

please a web site if u know of a good plan

Answer 1

A roth IRA is what I'm using. My employer doesn't offer a retirement plan (cheapskate).

Also, you should look into using a budget. If you can look at all of your expenses at a glance, you can spot areas where you could cut costs and divert those funds to debt reduction or a savings account.

I have a budget worksheet in Excel. If you'd like a copy, just email me!

Answer 2

The Motley Fool is a great, free personal investing website. www.fool.com

You'll find all the calculators you need as well as sound advice there. A Yahoo Finance regular is Susie Orman. While she's very basic in her approach (which I believe fits 90% of investors in the US), her fundamental advice is veeery solid. Go to Yahoo Finance to get to her column.

35 isn't too late. I agree with above - pay off all of your high-interest debts (except home and car) BEFORE you invest in retirement. Then if you have a 401k program with match max that out first - the match is free money. If you don't have a 401k program then open a Roth IRA if you qualify or a traditional IRA (if you make too much $$ to qualify for the Roth). You could also do both 401k and IRA if you have the $$ - that's what I do. But remember that these are long-term investments and you pay heavy penalties if you withdraw money from them, so again make sure you have high-interest debt paid off AND that you have an emergency cushion (3-6 months' worth of all expenses) before you start to invest in retirement.

Good luck. It adds up really quick once you begin investing and it feels really comforting too.

Answer 3

You need to give us more info.

Assuming that you don't have a 401k from your employer, you should open an IRA. Pick a mutual fund with a good long term return. Forbes does a good job rating them. If you can't decide, go with Vanguard SP500 fund. At least you'll make as much as the market does, and it has low overhead.

If after maxing out your IRA, you still have money, open a Roth-IRA. There are income limits (there's a phaseout of the amount you can put it, once your taxable income goes over $90,000).

Answer 4

Check out www.daveramsey.com. He talks about how to get out of debt, save for retirement, and build wealth.

He also has a book called The Total Money Makeover that is really good.

Answer 5

www.troweprice.com just pick the target date retirement fund and let them do the planning for you, you tell them when you plan to retire and thats it
just pump as much money into it as you can, start with 4,000 into a roth ira, then after that just put as much as you can in a taxable fund

this is all after any matching amount on a 401k, that is first no matter what

Answer 6

Stay away from any web site suggested on Yahoo Answers. Some are offered to you by people that are ignorant or have something to gain. Read a couple of books on retirement investing. You don't have to become an expert. These books will set you in the right direction.

Good luck..... Consider yourself warned!

Answer 7

well you haven't told us the most important thing, whether or not you have debt or not. if you have any debt other than house debt, it would be wise to pay that off then start putting all your money into an IRA. I personally use http://www.sharebuilder.com for my IRA. Also at the very least if you must start now, get into your job's 401K, otherwise aggressively pay off your debt and then focus on retirement.

Answer 8

Do you work for someone? Do you own your own business? What tax bracket are you in? Can't help you without more information.