I feel ashamed that I am in the condition I am right now, but please don’t judge. I just need some advice, if you would be so kind.
I am almost 44 years old, a missionary to Brazil, and live off of some donations and through teaching English here on the side. I am married, and my three kids are almost grown up now (the oldest is in college here already).
Here is the problem. I opted out of social security (through the mission work) from the start, and I now have NO retirement! I had always planned on setting up some retirement plan, but life “happened” and I never managed to. (I know that is foolish, that’s why I asked not to judge me; I feel bad enough already.)
I do have a Suntrust bank account in the United States, and recently wrote them and asked about their ROTH IRA plans.
I received the following reply from the bank:
I have absolutely no idea what the difference is; and, to be honest, I don’t even know if this is the root I should be taking – at least to have some retirement in my older years (It could be after my 70s.)If this is concerning a Bank- Side IRA (Money market or CD), please contact the branch on account or [phone number]. If this is concerning an investment IRA, for your request, please call [phone number], option 3, to speak to a representative between the hours of 8am and 6pm eastern, Monday through Friday.
Do you have any advice/suggestions for me? I’d really appreciate it!