Before doing anything else you will need to prepare a list of lifetime investment and income options. Investment in treasury and saving bonds has become an excellent way to making money. Treasury and saving bonds provide a secure way of enjoying a steady stream of income. Government bonds in the United States come with full taxing, credit power and faith. Although the profit or income on government bonds is usually lower than the corporate bonds, investors are more likely to be attracted by them since they are safe. It is advised to buy a few bonds initially to see if this option suits your needs.
Corporate bonds are also an excellent way of making money on a regular basis while sitting at home. Again, you will be required to purchase these bonds from the relative body. Remember that buying investment bonds in corporate sectors essentially means that you are lending money to an organisation for a fixed period of time for a set percentage of profit. Most corporate bonds offer excellent paying rates because there are no direct government guarantees on these types of bonds. Furthermore, the risk level is also considerably high considering the fact that the corporation can get into financial trouble and become bank defaulters. Research has shown that choosing a mutual fund of corporate bonds rather than purchasing bonds individually can reduce the level of risk significantly.
You may also choose to invest in a mutual fund made of high dividend stocks to get a fixed income after the age of retirement. This option also offers possibility of growth in the future if the share price rises. The money managers are usually responsible for investing your money in dividend funds.
CDs or certificates of deposit can also provide a secure source of fixed lifetime income. However, the maximum investment you can make in this sector is $250,000.