<prompt> Human: I hope this forum is open for late beginners like me-- I am 55 years old and I have about 20,000 that I would like to invest for retirement. I moved to America about fifteen years back this is how much I have got right now to invest-- my interest rate the bank is 0.8 and I would like to invest the 20,000 so that it grows over the next decade. I opened Fidelity 401k a fewmonths ago both my wife and me-- she has about 6,000 to invest and she is 50 years old.I am trying to ensure we can some supportive income for later.Please advise-- thank you  <response>: 401k is a program you get through work and you typically cant just transfer cash into it instantly, its a salarywage deferment. Since you have cash in the bank, you can indirectly put it into your 401k by opting to put a large percentage of your salarywage into the 401k for a few months while you live off the cash you have in the bank. You can also each put 5500 into a Roth IRA per tax year. You can open a Roth IRA with Fidelity as well, and that might be easiest since you already have a 401k there. Its super easy through their website, and you can transfer money in via their bank transfer functionsThe FAQ applies to you, please read it and ask questions based on what you do not understand: 26,000 isnt a lot of money so I would suggest you continue to defer as much of your salarywage as you can afford after you put the 26,000 in. The FAQ describes the order you should that, but generally you want to get any 401k match if you have one, then max your Roth IRA, then any more you can stand to put in add more to the 401k deferment. 