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Reply to "Is this too late to start investing? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Of course it’s not too late. Start maxing out that 401k before you do anything else. [/quote] I am definitely doing that! [/quote] If you knew how to invest, you wouldn't go anywhere near a 401k. Start learning now and in about 5 years, you wish you hadn't gone anywhere near a 401k. I had a slow day today, but still made 5% in my retirement account. Can't do that in a 401k. And don't forget RMD and taxes.[/quote] This is terrible advice. 401k uses pre tax money which reduces your income tax plus your employer usually has some sort of match or profit sharing which is “free money”. Most 401ks are administered by large companies like fidelity or Schwab and they have many options for you to invest in. 401ks are a great way to invest for your retirement and are a worthwhile part of your portfolio. Roths are also good. [/quote]
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