If only everyone was smart enough to ask this.
Risk goes hand-in-hand with reward. If you want reward, you have to take risk. You just decide whether the possibility of getting the reward is worth the risk or not. So, CDs are low risk and very low reward at the moment. Oh, here's what you do. Use the Rule of 72. Here goes:
You can invest in "x" with a 10 percent return. In the Rule of 72, you take the number 72 and divide it by, in this case, 10. That gives you 7.2, which is the number of years it will take to double your money.
If you increase the risk, you can double your money faster, but you've, uh, increased risk so you might lose in the long run.
If you reduce the risk, you make it harder to get to your goal because reduced risk virtually always means reduced reward opportunities.
Being financially secure when you retire opens the door to a lot of questions that get into what that means to you. Then we design a program to fit that.
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