You’ve lived a life full of rich experiences, led with purpose, and now, in your 70s, you’re ready to tackle something new—investing. Maybe you’ve focused on other goals along the way, or maybe you’re just now in a position to take control of your financial future in a different way. The great news? It’s never too late to start investing. In fact, as a Trailblazer, you already have the wisdom and life experience that give you an edge over younger investors.
Ready to jump in? Let’s break down investing into simple, manageable steps so you can make your money work for you—even if you’re just starting now.
1. Start With Your Goals—It’s Never Too Late
The first question you need to ask yourself is: What are your goals? Do you want to grow your wealth for long-term security, leave a legacy for your loved ones, or create an additional stream of income during retirement? Knowing why you want to invest will help you decide how to invest. Even if you’re starting later, having a clear vision of your financial goals will guide every decision you make.
2. Keep It Simple: Stick to Low-Risk Investments
Let’s be honest—at this stage in life, you don’t want to take on unnecessary risk. And the good news is, you don’t have to. One of the best approaches for Trailblazers starting later is sticking with low-risk investments like bonds, dividend-paying stocks, and index funds. These options are more stable and offer steady growth over time without the wild ups and downs of riskier investments.
Index funds, for example, allow you to invest in a diverse range of companies without putting all your eggs in one basket. You’re essentially buying a small piece of a lot of companies, spreading out your risk while still participating in the growth of the market.
3. Consider Dividend-Paying Stocks: The Gift That Keeps on Giving
Dividend-paying stocks are another excellent option if you’re starting later in life. These are stocks that regularly pay you a portion of the company’s profits—so you’re earning income just by holding onto the stock. It’s a win-win because you benefit from both the steady income and the potential for the stock to appreciate in value over time.
4. Tap Into Real Estate Without Buying Property
Investing in real estate doesn’t always mean you have to buy property, manage tenants, or deal with the headaches of homeownership. Consider investing in a Real Estate Investment Trust (REIT), which allows you to invest in real estate assets like commercial properties or apartments without the hassle. It’s a great way to get involved in real estate while still diversifying your portfolio.
5. Don’t Forget About Your Health Savings Account (HSA)
Believe it or not, your Health Savings Account (HSA) is a great investment tool as you get older. If you’re eligible for one, contributing to an HSA lets you invest in a tax-advantaged account that can grow over time, and you can use the funds for healthcare expenses tax-free. Plus, any unused funds can be withdrawn at age 65 for non-medical expenses—though you’ll pay taxes, it’s still an excellent way to boost your savings.
6. Seek Professional Advice: Your Financial GPS
Even as a Trailblazer, navigating new financial territory can feel overwhelming. Seeking advice from a certified financial planner can help you create a customized investment strategy based on your specific goals, risk tolerance, and timeline. A good advisor can help you avoid costly mistakes, identify smart opportunities, and make sure you’re on the right path toward financial growth.
7. It’s About Progress, Not Perfection
Here’s the thing: you don’t need to know everything or make perfect choices from the start. Investing, especially if you’re just beginning in your 70s, is all about making steady progress. Every step you take toward learning, saving, and investing brings you closer to financial empowerment.
It’s Never Too Late to Invest in Your Future
As a Trailblazer, you’ve led an inspiring life—and that doesn’t stop just because you’re starting to invest later. In fact, your experience, your resilience, and your ability to adapt are your biggest advantages. By sticking to smart, low-risk options, getting the right advice, and focusing on your goals, you can still build wealth, create security, and make sure your money works for you—at any age.
You’ve already proven you can lead the way—now it’s time to do the same with your finances. Let’s make your next move count!
