After that, open an IRA - if you want to save for retirement?? Then buy a mutual fund(s). Here's a couple of decent ones
VTSMX - Vanguard's Total Market Index
VFINX - Vanguard's s&p500 Index
I chose Vanguard's funds here. But other companies - Fidelity & TRowe Price, etc also have these.
Put it all in the bank (including some in CD's). You will "make" a lot of money not paying bank fees, late charges, overdraft fees, or interest on credit card purchases. You can also earn tax free money by prepaying some bills. example: $1100 for 1 year's car insurance beats 12 pmts at $100 a month. = a 11% return on your "investment." Then after you have at least 3 months of living expenses in the bank, you can put a small amount into the stock market through the IRA programs. {Roth might be better for you.}
Invest in education to get a better job and a profitable career.
Check out your local colleges for a two year degree that can double or triple your income.
Being age 50 with a low wage job is the road to ruin.
Try savings in recurring deposits in banks or mutual funds. SIP in mutual funds may be good chioece.
i am 33 with a low wage job. with the little money i make, i do want to invest in something for the future. whether it's for retirement or just a little breathing room. My job does not offer a 401(k) or anything of that nature. I do have a savings account, but that's about it. I would invest in CDs, but with these low rates it would be useless. I can try out P2P lending, but i am a little skeptical. I know with my age i should be focusing more on stocks than bonds but...what should i do?
