Is it too late to Invest for people age 55+

Is it too late for someone to invest if they are 55 years old? Never invested before and doesn’t have any other form of investment?
What about someone who is 70 and is the same situation as the 55 year old?
PS: Both are still working full time.

According to actuarial tables, 55 year olds have 28 years of life left on average… and of course it could be much more than that. Plus a 55 year old still has 10 years until traditional retirement age. I would absolutely be investing at 55.

If you’re 70 and you have no money or investments… the math is rough. I think relying on family and social services is probably the most likely scenario, but I’m not an expert in those areas. I would still try to live less than I make and save to do the best I can to have something for the future.

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What would you recommend for a 55 year old to invest in?
Roth IRA ? With Target Date Index Fund…
Brokerage account? With S&P 500…

I’d stick to the same investing checklist below. I really like the target date index fund approach, because it drops a 55 year old in a nice asset allocation that already has some income producing bonds so there’s a less volatile growth path toward retirement. The reality is at 55, there isn’t a 40 year timeframe toward retirement so more of the nest egg is going to have to come from saving/contributions rather than relying on compound growth over 40 years. A target date index fund automatically manages that for you! :slight_smile: