Starting to invest for retirement at an older age, such as in your 60s, is not too late. Many may believe they have missed the boat due to the emphasis on early investments and compound interest. However, beginning the investment process, even late in life, is essential for achieving a financially secure retirement. It's advised to start setting aside money immediately, either by contributing to existing retirement accounts or by opening new ones with reliable brokerage firms to ensure a better financial future.
Just because a lot of retirement math starts with the wonders of compound interest over time doesn't mean your retirement is doomed.
Putting money aside for retirement is the kind of important-but-not-urgent task that is very easy to put off.
If you already have an IRA, 401(k), or other retirement vehicle, transfer whatever amount you can afford today.
Take a half hour today to set one up with a reputable brokerage like Vanguard, Fidelity, or Schwab.
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