I am just now starting to plan for retirement. I am 53 years old and expect to have about $10,ooo to invest in the near future. My company offers a 401K but no company contributions. Why wait for the "near future" for this $10K to arrive. If you're employed, you've probably got some money coming in every week or two. Start putting 20-25% aside, whether in your 401K plan or elsewhere. If you're lucky, you may be able to turn that $10K into $40K by the time you retire. It's not the answer to your retirement needs. If you're serious about preparing for retirement, make some adjustments and start saving real money. It may be an adjustment, but look at your SS statement and consider how you'll adjust to relying on that as your sole source of income.I think my best bet is to learn to invest in the stock market and attempt to obtain 30% return on investment. This may be an unrealistic goal but it seems like the best plan so far. Comments are invited.Consider yourself lucky if you have a single year with 30% returns between now and retirement. The risks you'd need to take to chase such unrealistic returns would be much more likely to leave you broke.
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