Time is an investor's greatest ally. Many of the millionaires that were profiled started investing in their twenties or thirties. Establish a Goal. Goals provide motivation and direction. Buy Stocks and Stock Mutual Funds.
Stocks provide the best chance for growing money over time.
To find out how long it takes for a sum of money to double, choose a rate of return and divide it into 72. Bonds and cash assets, on the other hand, take much longer. Carlson noted that stocks create wealth and bonds and cash assets preserve wealth. He also noted that investors could reduce the risk of stock investing by lengthening their time horizon. Insurance expert Denise Kligman discusses long-tern care insurance.