Hello /r/personalfinance,
I need your advice for my parents. My parents are currently 57 years old. Parent 1 makes about ~60k/year, parent 2 does not work. They would like to start saving for retirement (I know it is really late, but better now than never). They can put down about $6.5k/year post-tax every year for the next 10 years. I am not sure where they would get the best bang for their buck given their age, should they contribute to a Roth IRA? Or do you guys have something else in mind for them?
They do have car payments and a house mortgage which they are making current payments on.
Let me know your guys thoughts! TIA
TL;DR: parents are 57 years old, would like to put down $6.5k/year for the next 10 years, what is their best investment option in this case.
Submitted December 24, 2018 at 01:11AM by poopsicle69in http://bit.ly/2BDGIcJ
