What would you recommend for an aggressive investment strategy?

I'm 50 years old and I have $10,000 to invest. As I understand it, I can't retire until I'm 67 so that's another 17 to 20 years for investing purposes. I'm looking at putting the $10,000 into an aggressive high gross investment strategy. What kind of advice do you have for me so I can execute this investment? I'm also trying to learn and understand investing. Would you recommend I can invest and control it myself, as opposed to having to go to other entities to make it happen?

Investing, Retirement Plans, Lifestage Based Planning
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May 2017
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You are 50 and essentially have no savings.  You have recognized that you can't afford not to take risk; I maintain that you can't afford to take a lot of risk, either.  I have one suggestion for you.

Change your lifestyle.  You don't say how much you make but clearly you have not been saving enough.  Downsize, now.  Cut your spending, cut your monthly housing costs, sell any valuables that you don't use.  Then, pledge to yourself that you will put away $3-4,000 PER YEAR into your investment account.  (Or more!)  Then, invest in something moderately risky, like large cap stocks.  Don't be tempted to swing for the fences.  If the market cooperates over the next 17-20 years, you will have enough put away so you won't need to worry about being old, feeble and broke.  Better to live like you're broke today.

As an example, if you start with $10,000 and add $3,500 per year for 18 years, and average a 7% return over that period, you will end with $153,000.  That's not bad, but not great either if you think about needing to live on your savings for 20 more years after that.  If you don't start right now, it's only going to get harder.  If you don't want to be living on dog food when you're 80, get going.

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