I’m 40 years old. My current job is a government job and has a retirement plan (not to sure what it is). I think it’s 2% of my highest earning year at 65. I’ve been at my current job for 2 years and am not putting in any extra towards retirement.
I was at my old job and for 10 years and have about $170k in a 401(k?). Im now at a point in my life where I can start putting in around $5k a year towards investments. I’m wondering what’s the best way to go about this. Should I invest in my companies retirement plan? Should I try and transfer my old companies investments? Their charges are cheap. $60/ quarter. Or should I just ask a financial advisor and invest in what they recommend?
I think my ultimate goal is to pay off my mortgage which I have around $312k left on (23 years).