Go for Growth Investing
If you want to improve the possibilities of $1 million in retirement, you need to build your portfolio with smart investments.
“No one gets rich by saving in the bank,” said Byrke Sestok, a certified financial planner and president of Rightirement Wealth Partners in White Plains, New York. “If you have 30 years before retirement and 30 years during retirement, then you have the time to participate heavily or totally in the stock market, and ignore the big drops and focus on the fact that stocks have historically proved to be a better-performing asset class over bonds and cash.”
You could opt for target-date funds, and shift your portfolio allocation over time from stocks to more conservative investments as you near retirement age or go for high return investments (you might want to consult a financial advisor for that).
