54yo v. low income no savings plan?
Well, I am 54 yo and life brought me to the USA at a later point in my life. I am overqualified in my field, but foreigner from a less known country = can’t get properly paid jobs, only part-time (and part-paid) teaching at good colleges.
So, no job in the summer and the annual income is fluctuating between $26k-$37k per year.
I have about $9k in deferred tax (retirement) accounts from my jobs.
My other savings are mega low (around 7-8k), of which:
- $4300 are in a PayPal‘s own crypto, which offers a 4% APY (basically a HYSA, I guess)
- I only recently started investing and have about $2.6k split between two Fidelity accounts (one is for my own investment into Bny Mellon, Fidelity international/FZLIX, in FZIPX, etc and another account is Fidelity managed 100% equity, domestic and international);
- and I am moving a $1.9k RothIRA to Fidelity from Acorns (Closing Acorns, I recently learned that Fidelity exists, yeah…)
- I am trying to figure out stock scalping, probably due to "too little to lose".
Aside from “get a permanent job“ or “switch careers“ and contribute more towards your retirement , what investment strategy and what kind of a portfolio would you suggest in my rather unusual circumstance?