Is 62 too late?

[Anonymous]

I posted this question in another thread but then thought maybe I should not have done so.

For someone who has never been in the stock market, is 62 too old? I am concerned I don't have enough time to weather the ups and downs and don't have enough money to be able to lose it.

Thank you DCUM.

[Anonymous]

In theory it's never too late. You also may want to start over at Bogleheads not DCUM.

[Anonymous]

My mother in law was widowed with nothing and parlayed a small amount of money into quite a lot in the stock market. She’s better than I’d be!

[Anonymous]

The money you need when u r 82 will be in the market 20 years

[Anonymous]

Anonymous wrote:The money you need when u r 82 will be in the market 20 years

Agree with this. I wouldn’t bet it all on sticks at this point, but whatever funds you were saving for your later years might be worth sticking in an index fund. Definitely don’t try to pick individual stocks. Too risky (some day period) at this point.

[Anonymous]

Not too late. I would do index funds but also 20% into one high growth stock. Keep working part time as long as possible, take care of your health and you all good at 80.

[Anonymous]

My mom started at age 80, followed the Motley Fool as a general guide to consider some stocks, mostly did her own thing, and did phenomenally well. She has even retained her overall net worth over the last few years. So it’s not too late, but be ok with the idea not every stock purchase will go well. She has probably increased her NW by 400% over more than 10 years.

I know, be wary of scammers. She’s still 100% at 90 plus and does zero online banking.

[Anonymous]

Go to Bogleheads for feedback.

[Anonymous]

62 is not too old, with a life expectancy of 87, you have 25 years of time. Lots of sources of info, some of it biased...they want you to invest in their financial products. Find a mentor to help you get started. If not, start watching CNBC, read info on stock investing, check out some books at the library. I started reading Value Line Investment survey at the public library 30 years ago. Still available with an online edition. Still a decent source on individual stocks. Most people follow this learning track if not in the business. They invest in mutual funds in their 401-k for some years. Then they open a separate brokerage acct with Schwab or Fidelity or XYZ firm. There they will begin investing in individual stocks after a recommendation from a friend or family member. And they will have mixed success going this route.

Gain knowledge, start small and use funds/ETFs before you invest into individual stocks. It is a learning process, the more you know the fewer poor decisions you will make. Know the difference between a trader vs. an investor, and know which one you are.

[Anonymous]

Sure. Why not ?

Just follow one rule: Buy low, sell high.

[Anonymous]

Not too late, but have a healthy percentage (maybe 40-50%) of bonds to help mitigate the volatility of stocks. Agree that Bogleheads is a great resource.

[Anonymous]

Never too late! Read a lot and don't look at your balances each day. I tend to do that and it get's rather depressing, but I am in it for the long haul and don't need my money out quickly. Talk to people about what they are invested in and their experiences. I have a friend who hunts down dividend paying stock. She texts me a list every so often, I buy some of them and some I don't. She has been a great resource and I play low stakes, like hundreds of dollars for a purchase at a time. It has added up over time and I have enjoyed 'playing the market'.