Investing at 50. Building retirement later in life. Eek

First and foremost, appreciate you sharing your wealth of knowledge.

A life for living is a life worth giving…

Restart. At 50. 3 kids ages 16,14,12. With the 16 year old off to college in 3 years. Athletic scholarship likely but you never know what the future holds.
No debt.
Sold home sitting on cash.
Live in expensive community while kids are in school. Rent is super high.
Wrote 3 offers on houses, outbid. So looks like renting is where I will be.

My plan.
Open 529 accounts for each child and max out each year.
Open a retirement accounts. I am self employed and work part time for a company that may or may not offer a 401k need to find out.

Keep 6-9 months emergency fund in my Chase account

Here is where I struggle. Do I pay $7,000 a year to Charles Schwab to invest my large amount of cash???

Do I buy cash for a rental property that will produce monthly income for me?

Is there an advantage to opening an account where the money deposited is strictly towards charity?

Thanks again. Your wisdom will help me get cash moving because it’s currently sitting at Charles earning next to zero.

Thanks in advance.
Marni

Welcome @Mrivera!

When you say:

I’m not sure what you mean? What is that $7,000? Is that the potential management fee for an actively managed account or something?

When you suggest opening an account for charity, is your cash so much that you’re not concerned about retirement, kid’s college, etc?