Enter Your Email Address Rupert Hargreaves | Saturday, 11th July, 2020 | More on: ^FTMC 5 Stocks For Trying To Build Wealth After 50 Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Rupert Hargreaves Image source: Getty Images Simply click below to discover how you can take advantage of this. Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your free copy of this special investing report now! Every pensioner is afraid of running out of money in retirement. Unfortunately, many retirees do encounter financial problems, despite the State Pension safety net.According to various studies and surveys, the average retiree needs more than £20,000 a year to live in comfort. That’s assuming they own their property and live a modest life.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…This year, the full new State Pension stands at just over £9,100 a year. That’s less than half the figure most retirees believe they would need to live in comfort.These figures suggest most pensioners cannot afford to survive on the State Pension alone. As such, the best way to avoid financial hardship in old age could be to start your own private pension today.State Pension alternativeOne alternative to the State Pension is to set up a SIPP. These products are fantastic because, unlike workplace or government pension schemes, the owner has complete control. To put it another way, a pensioner should get out as much or more than they put in, and that’s a big positive.SIPPs also come with significant tax benefits. SIPP contributions attract tax relief at your marginal tax rate. That’s 20% for basic rate taxpayers. So, for a basic rate taxpayer contributing £80, the government will add an extra £20 to take the total to £100. Additional tax reliefs are available for higher rate taxpayers.Another benefit of using a SIPP, rather than relying on the State Pension, is the fact that SIPP owners can invest their cash in the stock market. This is a huge bonus.Investing for the futureInvesting your hard-earned money in the stock market could turbocharge the growth of your financial nest-egg. Over the past three-and-a-half decades, the FTSE 250 has produced an average annual return of around 12%.On average, over the past 120 years, UK stocks have yielded an average yearly return of about 7%. This period has included multiple economic depressions and recessions as well as two World Wars. To put it another way, despite encountering multiple setbacks over the past century, UK stocks have produced a steady return for investors.This trend will likely continue during the next few decades. A combination of income and capital growth from UK shares could produce high total returns for investors over the long run.Therefore, by using a SIPP to invest in the stock market, future retirees can decrease their reliance on the State Pension. A contribution of just £80 a month into a SIPP (or £100 including the government top-up) could help build a pension pot worth more than £1m in 40 years. That’s assuming an annual return rate of 12%. This would be enough to provide a yearly income of £40,000 in retirement.All in all, figures suggest the state pension alone may not be enough to live off in retirement. The best way to get around this problem could be to open a SIPP and invest in the stock market. Our 6 ‘Best Buys Now’ Shares Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Can you really survive on the State Pension alone?