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My father is 50 years old and has absolutely no money in IRA , 401k or Pensions
coming to him in retirement. He earns between 50,000 and 60,000 per year doing
physicaly demanding work. What would be the best retirement strategy for him at this
point assuming he will retire at 65? I know the Foolish community is very anti annuity ,
but given the described circumstances would this be suitable for him. Does he need an
IRA ----AND--- an annuity?To get pehaps just a thousand dollars a month from an
ANNUITY for life upon retirement would he have to invest a tremendous amount of
cash into that vehicle? Many thanks in advance! Apologies for rambling and the very
broad scope of my questions.


The annuity is the most expensive option so I would skip it.

Start an IRA and contribute to a 401k if they have it at work.

Most important is to redo his budget so he starts saving.
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