Investing for retirement at a late stage

Hello, I currently am contributing 12% (with a 3% company match) to a 401K, an traditional IRA and a Roth IRA (both on auto at $25 each a month). In truth, I am starting out super late investing at 57 and want to still invest while working on eliminating debt of $13,000. I plan to keep working for a while as my company lets me WFH. I am also a caregiver to my elderly father. But I feel like I should be doing something else but not sure where to look. Any suggestions? Thank you in advance.

Hi @Suzical - thank you for your question! Good job on contributing to your 401k and IRAs! I like that you have it on automatic!

For anyone that is starting late, there is no magic bullet unfortunately. It’s just a matter of continuing to save whatever you can, invest the money you won’t need in the short-term, and trying to increase income and/or cut expenses wherever possible.

Please let us know if you have any other questions!