What advice can you give someone that is in their early 50's and doesn't have a brokerage or Roth, its all just in their 401k but after that is done its just SS.
This is my case with my parent, growing up they were never thought about finance or thinking about the near future and retirement, well long story short I have taken it upon myself to start them a ROTH IRA, because of their age I can contribute $8,500/year and I am fortunate enough to where I can afford that. So my question would be how would I allocate this money? Will the Boglehead system work? if so which stock should I leave the money in. I know it's not much but by the time they may need it, it may come in handy. I don't want to tell them because they will try to lecture me that I don't need to take care of them, but its kind of hard not too because I have seen all the sacrifices they have made for me and I want them to not have to worry about money in the future. We are fortunate enough that they don't have any debt which is why they probably aren't thinking about what can happen in the future. The mentality that they carry is mostly just work and try to stay healthy enough and maybe they'll retire someday.