Looking for some direction. I am 51 years old and just recently opened a Roth IRA at TD Ameritrade. I have $875 in their right now and am putting $125 per week into it. I have an emergency fund in a savings account at a local bank. I have paid off all debt except the house $110k. My employer doesn't offer a 401k. I make around $56k per year.
The IRA is I guess with no direction invested as $300 in Proctor and Gamble stock (had two free trades, 1 left), $350 in Vanguard Intermediate Bond Fund ETF, and $225 in their money market fund.
Looking to be put on the right path as to investing my IRA and after I max it out, which I will as I will be adding funds other than the weekly investments what should I invest in outside my IRA. I guess I just need to know given my age what type of asset allocation and what funds would be a good mix for me. I am more of a conservative type of investor.
I should be able to invest around $10-12K each year as a total portfolio. I am getting such a late start in funding for retirement and I do not want to make any big mistakes. Any suggestions would be helpful and appreciated.