Best Investments for Your $100,000
Got $100K to spare?
In fact, a good 51% of Americans say $100,000 is the savings amount needed to be financially healthy, according to the 2022 Personal Capital Wealth and Wellness Index.
The money already invested grows wealth without additional assistance, so you won’t have to save as much to hit your next $100,000 or the next $100,000 after that. In other words, the power of compounding makes wealth building easier, and the sooner you hit $100,000, the more time you have to harness that power.
“By the time you hit 33 years old, you should have $100,000 saved somewhere. Make that your goal. Thirty-three [and] $100,000,” O’Leary tells CNBC Make It.
In the U.S. overall, it takes a net worth of $2.2 million to be considered “wealthy” by other Americans — up from $1.9 million last year, according to financial services company Charles Schwab’s annual Modern Wealth Survey.
What should a 70-year-old invest in? The average 70-year-old would most likely benefit from investing in Treasury securities, dividend-paying stocks, and annuities. All of these options offer relatively low risk.
Where Should Retirees Put Their Retirement Money?