Reply to How to start financial planning at 50?

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[quote=Anonymous]Here is my situation.

50 years old. Single.  I have just moved back after living internationally for a few years.

Own a mortgage free house worth about 600K - has rental potential as it has a fully equipped apartment in the basement

Have 150K invested in a high interest savings account. No other investments.

No 401K, no savings accounts. No retirement funds.

Have 400K in cash currently sitting in the bank that is the profit from a recent property sale.

No debt. Monthly expenses are pretty low. Two adult children, oldest is financially independent. Youngest I provide some financial support to but only ad hoc and not large amounts. Youngest (24 years old, was living with boyfriend who is soon to be an ex) may be moving back in and wants to live in the basement apartment.

Need to buy a car.

Current income is very low due to part time work related to moving back but my income will be $120K ish once I have a full time job again, hopefully as of January.

Help me. [/quote]

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