I'm 37 years old I having nothing saved. How do I go about playing catch up for retirement?
Caveat Emptor said it best - because you waited to start saving for retirement, you're going to have to work much harder than you would have had you started, say, 10-15 years ago. The good news: it will be easier now than if you wait another 5-10 years. You say that you "don't want to be too risky," but the sad fact is, without taking on some market risk, you are exposing yourself to another type of risk - the risk that your money won't grow fast enough to meet your goals. It is true that stocks are volatile in the short-term. Historically, they have lost money about one out of every three years - this is why they are bad short-term investments. Over the LONG-term (5+ years), however, they have tended to be one of the best investments you can make (averaging around 9-10% return per year). This is why stock mutual funds are so popular for retirement funds. Figure out how much you will need to invest in your employer plan to get the maximum match - then start contributing that amount IMMEDIATELY. Next, open a Roth IRA account with one of the following three companies - Vanguard, T. Rowe Price, or Fidelity (all have an excellent fund selection, low fees, and outstanding customer service). Start with an S&P 500 Index fund (you can change your fund selection later if you like, but for now that money will start working for you immediately). All three companies have automatic investment plans, where you set up your account to draw a fixed amount every month directly from your checking account. The maximum contribution you can make per year is $5,000, and you can make 2010 contributions through April 15, 2011. There are nine months between now and then, so get that monthly contribution as close to $555 ($5K divided by 9) as possible. If you can't contribute that much, at least do $100 or $200/month, then be sure to send a portion of all windfalls (monetary gifts, tax refunds, work bonuses, etc.) to that account. Finally, I would recommend heading down to your library or book store and picking up one or two books on the basics of investing and/or retirement planning. This stuff isn't all that complicated, but it is VERY important to know. Seriously, this stuff can be intimidating, and it is easy to procrastinate, but DO NOT WAIT ANOTHER DAY. I hope that helps - good luck!
Just totally ran out of money for our wedding in April?
you ask people to be nice in their answers yet several days ago you asked a question about your food choices and couldn't be bothered to pick a best answer...... now that's rude. People take the time to answer but you can't take a minute to pick a best answer.......anyway..... Have a yard sale, sell your blood (do they still do that?) use some of the $$ you've gotten as wedding gifts, ask friends and relatives who keep asking what they can do to help if they'd like to give/buy/donate some chicken tenders, baby sit, offer to clean house for somebody, babysit, walk some dogs, sell your services to clean gutters/clean carpets/wash dogs or cars/do simple repairs, clean a flower bed or garden to get it ready for spring planting, get a job delivering pizzas. If you buy your lunch out then brown bag it for a while, if you buy Starbucks or the like then stop. No more vending machine purchaes, walk when you can instead of driving and all of these little bits, if saved immediately, will add up to more than you can think. Think outside the (chicken tenders) box.