Re: How Much Investment Needed to Earn $1000 a Month?
Many investments with higher yields carry significant risk to your principle. You might consider keeping $1,000.00 per month distribution as a goal to work towards. Save as much as you can and re-invest all dividends until you reach your goal.
I am in a similar situation, only building my IRA for the highest possible distribution upon my elder years. I chose a targeted retirement mutual fund from T. Rowe Price (Retirement 2040) now bringing in around 12%, even during the bear. Therefore, you might want to consider certain mutual funds with companies like T. Rowe Price, Vanguard or Fidelity, that offer experience and solid fund management.
Good luck to you! Cheers!
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