I need a little help here.
My mother has sacrificed for her entire adult life to provide for us, so my brothers and I decided that we're going to provide for her during retirement. She's spent over twenty years as an underpaid teacher, so she has nothing saved up for the future.
I'm making more money than I need to spend every month now, so the time is right to set up some kind of fund. Problem is, I'm an idiot when it comes to this sort of thing.
I need some advice on what kind of fund to invest in. As it stands right now, I can afford to put away about $80/paycheck for her, or about $160/mo. My brothers really can't afford to contribute anything right now, but that will change in the next year or two. I need some sort of fund that will allow them to contribute as soon as they can afford it.
What long-term (20 years) investments will give me the best returns? How do I go about setting those up? What do I need to know as I get into this sort of thing?
I know that my best option is to consult an investment counselor, but that's a little out of my price range at this time.
Does anyone in the know have any advice on setting this up?
My mother has sacrificed for her entire adult life to provide for us, so my brothers and I decided that we're going to provide for her during retirement. She's spent over twenty years as an underpaid teacher, so she has nothing saved up for the future.
I'm making more money than I need to spend every month now, so the time is right to set up some kind of fund. Problem is, I'm an idiot when it comes to this sort of thing.
I need some advice on what kind of fund to invest in. As it stands right now, I can afford to put away about $80/paycheck for her, or about $160/mo. My brothers really can't afford to contribute anything right now, but that will change in the next year or two. I need some sort of fund that will allow them to contribute as soon as they can afford it.
What long-term (20 years) investments will give me the best returns? How do I go about setting those up? What do I need to know as I get into this sort of thing?
I know that my best option is to consult an investment counselor, but that's a little out of my price range at this time.
Does anyone in the know have any advice on setting this up?
: Check out the Motley Fool's basic retirement investing guide 
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