Investing At Age 52 - What Is The Best Strategy?

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[HugoBergmann-lund]

Investing in mutual funds offers a structured and diversified approach to building wealth, managed by professional fund managers. While there are costs and some limitations, the benefits of diversification, professional management, and ease of access make mutual funds a popular choice for achieving a variety of financial goals.

[ChristopherAbelman]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.

[MegatPage]

Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement, I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[Baldwin]

Interesting how over 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. But then I'm still aware of certain investors that continue to earn over $365, 000. Wish I could accomplish that.

[annMarien]

I was in my mid 40s before I looked at my retirement and what I had to do about it. I was renting and had no pension. I was lucky to come across the ads of a company called "ferrochrome securities" They organised my wrecked finances and made me set priorities. First on my list was sorting a home that I would own when I hit 60. Then looked at how much I would need if I wanted to retire at 60. This gave me my goal, and I am happy to say that 10 years later, and 5 years from retirement I am on track. Amongst the few things they helped me to realise was adjusting my IRA, inputting capital into annuities, corporate bonds and other securities and leaving them to compound and grow. It's pretty exciting once you start the journey!

[CadeCowell-ftfe]

In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $200K under a year investing in stocks. What's the strategy for such returns?

[rtu]

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding.

[lorrier]

I’m about 55 and we just finished baby step 2... got a lot of catching up to do. Always good to hear about investing on your 50s.

[colleen.odegaard]

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio of $2m. I’m really worried about survival after retirement.

[cheryls]

Dave Ramsey changed my life I owe him and his team a lot I am no longer a compulsive shopper and I save and budget with all I have…

[wdboss]

Glad I came across this video. I'm 54, similar situation as the caller, except paid off house, and zero debt. Glad to hear Dave say I should be okay.
Did it all by listening to Dave, and doing basically the same as the baby steps, just in a different order /all at once. Worked for me.

[VladTepesh]

"Money is just a tool." Best advice ever. As expected of Dave Ramsey.

[Nilsosmar]

1) It's great to hear about people's success stories following Dave's advice.

2) Re: Dave's comment about "left wing liberal types" -- I know several people who are conservatives, but also several people who would call themselves liberals who are fans of Dave's videos, and are following his advice and his baby steps program, to get out of debt and shore up their finances. They are:

-- setting aside several months' pay to meet emergency expenses
-- paying off their mortgages early (large prepays, skipping the lattes and throwing ALL of their extra money at the mortgage)
-- avoiding unnecessary purchases (like expensive cars they have to finance)
-- setting aside money for the kids for college
-- putting 15 percent into retirement savings; etc.

Point being - I don't really think his ideas are about conservatism or liberalism in a political sense. They're about understanding how money works, avoiding debt traps and interest payments, and using common sense. His videos are a great service to people who understand and follow his basic advice, regardless of their political persuasion.

[johnnnewmex]

Amen Dave. It is important not to being negative about people who achieve success and wealth. They should be respected, not criticized.

[CharlesWalker-jbyl]

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.

[elmateo]

The order you invest in should be:
1. Any employer match to 401k
2. Roth IRA.
3. The rest of your 401k to the limit
4. Any leftovers to mutual funds / ETFs in a traditional account.
The total should add up to at least 15% of your income (although higher than 15% isn't a bad thing especially once you've paid off your mortgage).

[sammyalabamy]

... Money just makes you more of what you already are... Awesome wisdom there!

[legitKwit]

Security and peace are important to me. Retiring with dignity. Yessss! Amen!

[MC-xgyx]

Having a 401k retirement account at your job is not a scam and its the best way to save for retirement besides depending on a small supplement social security income

[MovieMuscle]

Profit is not a dirty word, and being successful is not evil.