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Reply to "How to start financial planning at 50?"
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[quote=Anonymous][quote=Anonymous]Get a full time job, max your 401K and Roth IRA. Get a super reliable and inexpensive car... think Camry but not so low as a corolla. Work until you are 65, retire. [/quote] This. I maxed 401k and IRA. HR asked if I was sure about 401k. lol. I lived on very little for a while to gain financial freedom. Congrats on paying off your home! If possible, have adult child pay you rent. At very least utilities. Camry is a great car. Few problems. A new one can be had for $35k. Create a backup plan if you get laid off due to ageism. [/quote]
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