I AM 53 years old but look and feel like thirty has no education or money how can i retire and when ?

Question

i have been working all my life and has nothing to show because my progress started late in life .

Answer 1

If you are male, marry a rich woman, if female,marry a rich man, If you are Gay, go pack fudge for a living............Nuf Said

Answer 2

If the company you work for have a 401k plan contribute to the max it will allow you, also it will be match by you employer, all tax free. What it means is you will only be taxed on your net income after your contribution to 401k. If you don't have 401k at work start one with Schwab and be sure you diversify you investment. A combination of no load mutual fund, 10%bonds, 30% large company growth fund, 30% mall cap fund, 30 Euro/asian mutual fund. Pick funds that has 9-14% yield. You have 12 years before you can collect SSI, that's how long your investment goal. If done correctly you should have $300,000 -$400,000 when you retire. This will suplement your SSI retirement and you should be OK in retiremnt. Last thing is when you retire move to a state that have low cost of living. Good luck

Answer 3

It is advisable for people now to plan on having at least $500,000+ to retire, depending on their lifestyle and investments. The age at which you can retire with full Social Security benefits is probably 66 or over, 62 if you want a reduced amount (almost half). Go to the Social Security website and see what the retirement age is for your year of birth. Without the benefit of an education or a retirement account, it is virtually impossible to support yourself decently on Social Security and Medicare alone. You should continue working and attempt to set aside some money for retirement. If you live on a limited income, apply for foodstamps and low income housing.

Answer 4

Retirement age for a person born in 1954 is 66.
Your social security will not be alot, but you could move to Mexico or another cheap country where you can live pretty well on it (that is my plan).

You might try earning alot of money over the next 10 years (and saving it), getting a government job (because it pays a good pension), or marrying money.

Answer 5

You can retire as soon as you have sufficient financial resources to live on.

If you're looking to Social Security to provide that support, I believe the current retirement age is 67. But many Social Security recipients still work part time jobs to have enough money to live on.

Answer 6

If worked on a job where they took out
Social Security, You can recieve a check
when you are 65, depending if you have
enough quarters worked. if not then you
may have to get a second job, and put up
the whole check you make, until you are
75 yrs old - good luck, and start saving.

Answer 7

You need to able to support yourself before you can retire.

Answer 8

I think that this site is one of the best opportunities I have seen. www.freedomrocksnetwork.com Take care.