Bonds, preferred stocks or income mutual funds might be appropriate if investment income is your goal. To achieve long-term growth so that you will have money for your children's education or for your retirement. Suitable investments for a long-term growth include common stocks and equity mutual funds. To minimize taxes. Once you've determined your investment goals, you must decide how much risk you are willing to take to achieve these goals.
Different investments have different levels of risk.
Keep in mind that an investment offering a higher return always carries a higher level of risk than one offering a lower return. Decide how much risk you are comfortable with. Investing your money shouldn't be an experience fraught with anxiety. Determine how much risk you are comfortable with and choose your investments accordingly. Once you have a clear idea of your investment goals and how much risk you are willing to assume, you are ready to start looking at specific investments.