mcmufin
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I cannot answer your question. I am only writing to tell you that bijak sinner's response is one intended to trick you into signing up for a highly risky investment |
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waldguy
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Goodness No. But you do have less time to make mistakes, but probably a little more wisdom so you can avoid the high risk mistakes alot of young investors make.
You are best to go to a reputable financial advisor, even if it costs a bit to get you set up. Learn how the stock market works from web sites and books, because your own knowledge is your best protection. The money you invest is yours to grow or to lose.
If you're going to be saving for the long term here, and you would like to look at individual stocks, look at established companies that pay a dividend on an increasing level over time. They're boring but they offer a limited downside because they are paying out cash as you go. If you hold them in a sheltered account (401K or RRSP - Canada), you pay no taxes on them. Open a brokerage account at TD Ameritrade or Scottrade or any other to buy stocks directly.
One of the keys is also not to invest all your money in stocks keep your age percentage (eg. 42% now) in more secure investments such as bonds and cash (typically 5% in cash). That way if the stock market goes down (goes on sale!), you have something to buy more stocks with. When it goes up, you can sell of some stocks to lock in profits. As you age, your investments get weighed to the more secure side, while still providing inflation protection.
Another way to go is mutual funds with a good track record, although you pay a fee every year for them to manage your stocks (1-3%). Similarly, Insurance companies are typically not the best return over time because of the fees to the company associated with managing and "guaranteeing" your money.
Start with a little and put aside something every month, and you will be glad you did, especially if your horizon is 20-25 years. |
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Moondog
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It's never too late. You just have to work at it harder. Take advantage of whatever tax free you have avaialbe. 401k s are great. You've got 25 years. That's plenty if you do it right. |
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JADE
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As they say, it's never to late to start. Just as long as you keep on the right track consistently. |
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gosh137
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nope, it's not too late but, in order to have a decent "nest egg" you will have to save more per month than someone who started "on time." |
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curmudgeon
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nope. not too late at all. |
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CANDY
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depends on how fast of a return you get |
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yolio j
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I will ask the same question in a diffrent way.
is it too late to invest when you maxed out 42 out of 50 average years that you have energy and cleavernes to deal with changing market conditions? |
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Willy
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It is never too late The more you save now the more you have later. play it safe |
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Thin Kaboudit
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No, it's not too late. If you work until you are 67, you have 25 years to grow your nest-egg. Start putting 15-20% of everything you earn into a broad market growth fund inside an IRA. If you earn, say, $45,000 a year right now, and your raises keep up with inflation, you still have time to amass almost a million dollars.
PLEASE IGNORE THE INSURANCE SALESMAN trying to con you into an annuity, because they have such "low risk of losing your principle", LOL. So does putting $10,000 in a shoebox under the bed for 20 years, but you'd still only have $10,000! People who sell annuities do so because they PAY the SELLER the best commissions!
Best wishes, & good luck! |
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Stephen
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No, it is not too late. Start investing as soon as you can afford it. It is painful to put money away. However, it will cost you more if you don't invest. |
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FunkBucket111
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Nope, it is never too late. |
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VP
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There is never to late for those things:
Love,
Healt care,
Learning,
Investment and many other |
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Norm W
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No it's never too late!!! But you'll have to make some really big changes to have money so you don't have to work after you retire at age 67 or high when we get there!!!
1) max your 401k to 15%
2) max IRA account |
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singlewkl32
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It's NEVER too late to start investing. If you are carrying high interest debt begin there. Everytime you pay it down you are investing in a high interest guaranteed investment. If not look into a dollar cost averaging program in several diversified mutual funds. You buy stocks in bad, neutral and good markets and do not risk investing everything at the top of a market.
Good luck.
Retirement accounts should be priority 1 at your age. Deferral of taxes and they are untouchable in case of financial disaster in your life. |
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CRA
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No, it is not too late to start. I would suggest that you have a plan and determine what your goals are and the risk that you are willing to take. And diversify, do not have one company manage everything or have all your investment in one thing.
Get a lot of advice from people who have achieved what you are trying to achieve, not from people who are just trying to sell you their services. |
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K M
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Never to late. I'm 66 and still investing. |
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bijak_sinner
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Big Head
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no but yes at the same time becasue your much older you wont invest much money. that is why they ask you to do it at age 19 and up. |
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hjgj h
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kjhgkjhgkjh |
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Vicki B
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Yes it is. Way too late. You'll be poor when you retire. |
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The Rabbi
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This is the right time, but you need to play it safe. There is a product called 'fixed index annuity' offered by the life insurance companies.
Your principle is guaranteed.
It is tied to one of the indexes such as S & P.
Your market gains are yours to keep.
They offer a bonus up to 10% on your initial deposit. $5,000 becomes $5500 and starts compounding.
A history of !5% returns.
This is where retirees are putting their retirement funds.
401K and other such plans can be affected negatively by the market. |
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