First time retirement investment
Hi Terry,
Love hearing you on WGN! My brother in law is 52 and self employed. He has no retirement savings but his house is only a few years from being paid off. He’s now in a position to invest about 10k per year. His line of work is physically demanding and says he has about 10 years left in him. In his case would you suggest a Roth IRA? Or do you have a better idea? I do not know if he has paid into SS.
Thank you for your time!
Best,
Terry Says
I would definitely suggest a ROTH IRA. And he can invest conservatively since he is close to retirement and the market is at all-time highs. If you want me to be specific, I think he should open his Roth at T.Rowe Price and put half in the Equity-Income fund, and half in the money market fund.
