I am 48 now. Where should I start putting my money now to produce the highest monthly income when I'm 65?
I am 48 now. Where should I start putting my money now to produce the highest monthly income when I'm 65?
I am disabled and on disability, so I have only a small amount to invest - $300.00-$500.00 or more a month. I live in a high-tax state - NY, so tax-free income would be great (I guess). Thanks.
Answers
426 points
MONEYTREE answered 4 months ago …
I dont know if you want to go with stocks or what but i would advise if you really want to take control of your investing subscribe to the paper Investors Business Daily. Every Saturday there is a section called the IBD 100 and those stocks are usually the best and stongest stocks in the market based on good quality companies with growth. They aslo tell you when there is a buy point on a stock, i know this doesnt sound like it would help but there is alot more to that paper. The way the market is going right now and the way its always gonna go, i wouldnt probably hold any stock over 2 to 3 years, depending on whats going on in the economy and what the charts tell me, But some of my stock picks as of now would be Cisco Systems (CSCO), General Electric (GE), Bank of America (BAC), Apple (AAPL), i gotta go im in a hurry but someone will help you, alanj and ethanr will give you some good advice, good luck sir.
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348 points
Sensei answered 4 months ago …
Nobody can answer this question. You're asking, "Where should I put my money TODAY to get the maximum cashflow 17 YEARS FROM NOW!" If you can tell me where the S&P500 will be, what the dividend yield on shares of "XYZ Co." will be and what interest rates will be in 2026, I'll tell you where to put your money THEN. But, as for what to do today, It can't be done.
What you want to do now is to get deeply educated in the investment field. Learn about stocks and bonds and options. Then, learn to make prudent investments to maximize your capital base so that, when you're 65, you have the largest possible pool of funds to invest. Then, in 2026, come back here and ask the question again. I'm sure there will be lots of well-informed "players" around here who will be able to give you all kinds of ideas to maximize the cashflow from your investments.
