Sorry the title is not more informative folks. I have a good friend who is 55 and for a variety of reasons does not have a lot of money saved.
The usual life stuff including an hereditary illness that cost a crapload of medical bills and trying her own business that didn't pan out including a MLM. Anyhoo she declared bankruptcy but wants to retire in 7 years.
She just started a new job and simply asked me "how can I make my money grow". Here's my dilemma
1) all I could come up with was "keep working as long as humanly possible "
2) I was more of the "slow and steady" wins the race type of investor. I do have a pension but I was participating in my retirement savings since I was 30.
3) I'd probably be hyperventilating if I was 55 with 10k saved so I don't think I know how to be helpful
Any suggestions??
The usual life stuff including an hereditary illness that cost a crapload of medical bills and trying her own business that didn't pan out including a MLM. Anyhoo she declared bankruptcy but wants to retire in 7 years.
She just started a new job and simply asked me "how can I make my money grow". Here's my dilemma
1) all I could come up with was "keep working as long as humanly possible "
2) I was more of the "slow and steady" wins the race type of investor. I do have a pension but I was participating in my retirement savings since I was 30.
3) I'd probably be hyperventilating if I was 55 with 10k saved so I don't think I know how to be helpful
Any suggestions??