Any Advice would be appreciated. I am 45 years old, I have approx. $ 12,000.00 in a money market account at BOA (extremely low interest). I have a full-time job with no 401, but i have a partime job and basically put all of that money in my MM account. When i first started my part time job i paid off all credit cards and now PIF each month when i charge something (basically to keep cards open and reporting and for rewards thru AE). The only ongoing monthly payment, other than rent, electric, phone, etc. all that i have is a car payment of $ 233.00 each month with a balance of approx $ 2,900.00.

My husband has been on my butt to start some type of investing/retirement account and i am ready to, i just get so much different info on what to do, i thought i would ask my fellow CB'ers their opinion since ya'll have helped so much regarding the credit stuff.

Go CB

Good for you for taking a step in the right direction!!

I would suggest reading some books - that should help you find out what is right for YOU. For your situation, it might be nice to start an IRA since you don't get the pre-tax benefits of a 401k - could allow you to save a bit more now.

The good (and bad) thing about investing is that there are a zillion options and no one option is right for anyone. Everyone has different wants, needs, tolerance for risk, etc.

Good luck!

I'd start by paying the car off, you are in essence "borrowing your own money" by having it in savings account drawing a low interest rate. Take at least $1,000 and leav in in the money market for when life happens. Fund your 2005 (until April 17) and 2006 IRA's.
For a begining investor check out TRowe Price's PRWCX moderate allocation fund. It's a conservative fund that has averaged 12% over the past 20 years, and hasn't lost money for a calander year since 1990. As you learn more about investing look into riskier funds that offer higher return potential.

1: Pay the car off
2: Take $8,000 ($4,000 each) and invest it with a mutual fund company in 2005 IRA's for you and DH (you have till April 17)
3: Leave the rest in the MM account
4: Build your MM account to 3-6 months expenses while funding you 2006 IRA's

IMHO 401k's are overrated unless you get a match or earn enough to max out your IRA's every year.

DH has a 401 through work, but that is all the savings he has. Thanks for any help!

If he gets an employer match he needs to contribute at least enough to get all of it.

Like Reg said, unless you're getting a match from your employer, you're better off putting that money in IRA's.

he's vested 100% and his employer matches him i think. i don't keep up with his stuff cause we have everything financially separate. I know i am entitled to half of his but we have no kids together and i don't want anything to do with it. i'm not even sure we will be together next week much less 20 years from now. i still want to have my own retirement/investments either way.

Invest in the 401k up to match, then a Roth 4k per individual, then back to the 401k with anything left.

Vanguard, Fidelity, Scottrade are a few good companies to start a Roth account. TrowePrice and Charles Schwab are 2 that offer discounted advice help if needed.

Clark

It's good that you're trying to get your ducks in a row, but don't let any more time slip away. Having virtually no retirement savings at 45 years old is not an enviable situation to be in. Make a plan and attack it with a vengeance. You have A LOT of catching up to do.

I pretty much agree with 54regcab. Pay off car, fund IRAs, then emergency fund for 3-6 months worth of income. I like Fidelity and Smith Barney funds. Fidelity is available through several brokers, and Smith Barney through Legg-Mason or Primerica Financial Services.

I would stay away from "Smith Barney through Legg-Mason or Primerica Financial Services" and any other full service brokerage that are paid full comissions and sell loaded funds. Just a thought.