I'd stick it in an ETF (exchange traded fund) that tracks the S&P 500 - I invest in SPY. A Roth IRA is probably best, but an IRA would work as well.
Since you're starting late the key is saving as much as you can. Since you're starting with nothing at 47 a good target would be 20% of your income. I know that's a steep number right now, but the more you can save now the easier it will be for you to actually retire at some point.
Since you're starting late the key is saving as much as you can. Since you're starting with nothing at 47 a good target would be 20% of your income. I know that's a steep number right now, but the more you can save now the easier it will be for you to actually retire at some point.