Starting a Retirement Plan at 50

Some people didn’t get the memo. You should start saving for retirement as soon as you are financially able to.

Bart Hostetler, Branch Manager in Houston for Charles Schwab, says start as soon as you can, and the best place to begin is your company’s 401(k) plan. But not everyone has one.

“If you don’t have a 401(k) available to you there are a lot of things you can do on your own individual basis and consider saving in an Individual Retirement Account,” he tells KTRH News.

For those people 40 and over that are sweating their future as the years tick by, Hostetler has sympathy. “The first thing to understand is that their situation is not uncommon. In fact, many Americans feel that same pressure or stress of thinking about starting to save for retirement.”

A good place to begin is the terminology. The Charles Schwab website lays it out HERE.

photo: Getty Images

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