In Need of Nest Egg Help

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Q: I am embarrassed to admit that at 36 years old I have not saved a penny for my retirement. Please tell me it's not too late and what the best way is to get started.

It isn't too late at all. Just get started today and make it an integral part of your money habit! The easiest way to do so is if you have a 401k plan at work. Sign up for it immediately and make sure you are contributing enough to take advantage of your company matching. If your company doesn't offer a retirement plan or you are self-employed, start with a ROTH IRA. You have to make less than $106,000 a year and can contribute up to $5,000 a year. If you earn more, you can open a Traditional IRA. You can open one up at a large mutual fund company such as Fidelity or Vanguard and pick one of their Target Date Retirement Mutual Funds for the IRA. Good luck and get started!

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