I recently inherited a good size chunk of money, over $400,000 with another $100,000 coming within the next month. My goal is to have over $1,000,000 at time of retirement. Im currently 24, looking to retire at 55-60. I own my own house, and have no debt. What would you suggest to me? I would still like to access some of the money as I plan to build onto my house later on, and enjoy life.
Other members have given you better ideas for making your money go to millions in next 30 years so that you may enjoy your retired life without worrying about the money, I think you should invest in those treasury bonds now so that you may secure some income in future, and still if you have left with money you may invest them in securities of the company in a diverse manner stocks of one company and debentures of other company so that you may get R.O.I on shares at a diverse rate while may get a continuous source of Interest on the debentures and bonds till the maturity also you may later get your debentures paid off or reinvest them in some other stocks and securities to get more returns from it.