What do you think is the best retirement plan and where to i
I am already 40 and thinking of planning for my retirement, i know it's a little bit late but better late than never. What do you think is the best retirement plan and where to invest?
Tue Apr 18, 2017 9:21 am
oldguy Senior Member
Cash: $ 717.80
Joined: 21 May 2006
I used the SP500 Index Fund - mine was inside a 401k but you can use any holding account, ie, IRA, brokerage account, etc.
The longterm average SP500 return is 11%/yr, if you invest $18,000/yr, the 401k maximum (that's what I did) you should have a million in about 18 years (in my case it was 14 years).
Tue Apr 18, 2017 3:09 pm
Cash: $ 3.90
Joined: 09 Jan 2016
Sounds good to me! However, I can only invest less money (longer years) compared to what you did because currently I am still paying for a car under auto loan refinance.