Dear Dave,
I’m 50 years old, and through a series of bad life decisions, I have nothing set aside for retirement. Now that I’m finally in a better place financially, I’m getting to the age where people say to invest conservatively. Because of this, I’m afraid to invest in anything aggressive, and that makes me feel like I’ll never be able to have a decent retirement. I’ve put aside $20,000 in a savings account so far. Any advice you have would be appreciated.
Jack
Dear Jack,
First of all, you’re not at the age where you need to be investing conservatively. I don’t know where you heard this or who told you it was a good idea, but they’re wrong. You’re only 50. I’m not investing conservatively, and I’m 63. I’m investing in good, growth stock mutual funds that are growing like weeds. And you should be too.
Listen, I’m not saying you need to shift into panic mode….
