I'm 50 years old making $8.00 hr. how can you invest or make more money and be secure at retirement??
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Answer:
I think the first thing is to explore options to increase your hourly rates. Like many have said learn a trade or a skill. Another thing is explore business ventures that are easy to start up like maybe a lawn care service, or car detailing, etc.
I think the best thing to do is to sit down with a Financial Adviser who is willing to work and help you with your situation. I have to be honest, someone is going to have to be a bit creative with helping you, but if there is a will to save and invest, there is always someone out there who is legit that is willing to help. Also, if you have a wife or girlfriend, or partner, explore pooling your monies together so that you may be able to save more and faster.
I do think the first start is to get a bank account checking and savings and developing discipline that way. Once you get that set up look at INGDirect.com they have high interest savings accounts right now (they could change in the future) that anyone can sign up for. I think right now they are at 4.5% so at least the money you put in there can earn more than in most regular savings accounts.
I think exploring odd jobs for money, a second job, or learning a trade will help increase the income earning potential.
Hope that helped out a bit and Good luck... remember where there is a will there is always a way. Even if you can only put $10 or $20 aside for your future, it's something. Nothing is too small when it comes to saving in the end with compounding, you maybe surprised how much you have been able to save in the future.
Good luck
send them to
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Start their own business
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But you've got to get your income up. You can make more that that delevering pizzas.
If you are living off of that income now, why don't you get a part time job and save the money from that for your future.
$8.00per hour, 50yrs old,criminal background, dead broke and want to raise a family and retire in relative comfort ? just to make a wild guess i would say you have a very vivid imagination...good luck with that.
Be positive. In Indian currency you are getting 40X8=Rs. 320 per hour which is well enough to live in India. By investing a small portion in Indian Real Estate you can earn more.
After retirement settle in India. It is a very nice country to live.
Wow you should of thought of this 20 years ago, But here we go. First clean up the criminal record, goto your , local court house and try to get your record exponged, if you have been clean for a few years and the offenses weren't anything to terrible a Judge should sign off on this. Next if you want a better job you just gotta apply for it. If you want it bad enough you will find it, maybe even be willing to move or drive upto 1 hour one-way, if you want this you gotta be willing to suffer a little. Next if you don't own a house buy one as soon as possible, jus don't overextend yourself. If you can and will do these things then you will start to see progress faster than you can think. Good Luck. Oh and vote for the GOP.
You need to make more money. You're not going to save anything at that wage.
1. Try phone sales if you're a good talker. It's a good way to earn more and they don't care about really anything if you can sell. Once you have sales exp. you can move to better paying sales jobs.
2. Learn a trade. Construction, masonry. There's plenty of work once you have a skill.
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