It’s never too early to start planning for retirement and build a stronger financial future. In this segment of Backstage Pass, recorded on Nov. 17, Fool contributors and investors Rachel Warren, Connor Allen, and Travis Hoium discuss their personal approaches to preparing for retirement.
10 stocks we like better than Walmart
When our award-winning analyst team has an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now… and Walmart wasn’t one of them! That’s right — they think these 10 stocks are even better buys.
People are also reading…
Stock Advisor returns as of 6/15/21
Rachel Warren: Then Vihaan said, “outside of taxable brokerage investments you hold can you please talk through how you’re managing your retirement portfolios? Roth IRA has limited 6K, when did you start 401K? How are you best managing Uncle Sam for long returns? How is your capital concentrated across your portfolios?”
If you guys want to try to hit that really quickly, I can say for me right now I’m focusing on building my stock portfolio for retirement. But my retirement is a long way off. That’s how I’m doing it right now, but I’m sure I will adjust that strategy and diversify beyond that as I get older.
Connor Allen: Well, that’s a lot of questions from Vihaan, all-in-one. But I’ll try to just say what I do. I’m 22 right now. I opened a Roth IRA when I turned 18. I do my best to put as much money as possible into my Roth. I haven’t ever opened a 401K and Travis, you may be a better person to take this question because you might have more experience with all of this being a little bit older.
Travis Hoium: Shots fired.
Allen: Your beard is just a little bit nicer than mine so I figured you had a few years on me [laughs]. But what about you, Travis? What do you do?
Hoium: I’m maybe not the best example here. I’m not investing in retirement accounts specifically. I really value the liquidity of having a taxable account and that served me well throughout my life.
Like I said, I’ve used the money that I’ve invested to do things like pay for college, pay for our wedding, now we’ve spent a lot of money on kids over the last couple of years. So I really value that …….