Magazine article Black Enterprise

Never Too Old to Invest

Magazine article Black Enterprise

Never Too Old to Invest

Article excerpt

QA I'm really interested in starting to invest in stocks. I'm 34, and very ambitious, but I don't know if I'm too old to start investing. How long does it take before I start to see a change in finances if my yearly income is less than $25,000 a year? I'm also a musician who believes in putting time and money into a career to make it work. Is that the wrong attitude to have if I'm trying to make a serious commitment to investing at my age? --Keith J. Nelson Atlanta

A At BLACK ENTERPRISE, we are staunch advocates of the development of an investment program at any age. At 34, you still have an opportunity to amass enough money through investing to retire comfortably.

The best way to start is through your employer's 401(k) plan. Pay yourself first by finding out if your employer can direct a portion of your paycheck to the company-sponsored retirement plan, or, if they don't have one, direct the money yourself into an IRA. …

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