Hey all, this is my first time posting on Reddit. I so badly want to help my dad out.
I just found out that my dad who in his early 50s has no retirement savings, which pains me because he's the hardest working person I know. He has never had access to a 401k because he has worked various jobs in the past 25 years that do not provide retirement benefits. To preface, my dad is an immigrant who did not receive a financial education once coming to America. I also have very limited knowledge as money was never discussed growing up, but I'm learning.
He doesn't make a lot, but enough to live somewhat comfortably in our area. He's still paying his car off, but he doesn't have any debt otherwise. He has some money set aside for emergencies.
Should he invest in a traditional IRA or a Roth IRA? What other options does he have? I'm so lost. Appreciate any and all advice.
Submitted January 13, 2021 at 11:40PM by beige0 https://ift.tt/3qiZOwh
