Buying a new home is indisputably a major milestone in anyone’s life. In fact, for most people, it’s the biggest purchase they’ll ever make. Of course, this means that prospective homeowners will need to have their finances in order to afford closing costs, a down payment, and their mortgage once they own the property. 

Saving for retirement is also a very important task, and neglecting your retirement account to pay for a home will likely hurt you in the future. It is completely possible to both save for retirement and have your own home, but to do so, you need to be well informed.

There are times in life when you’re not going to want to be involved with certain projects. For example, I want nothing to do with home or auto repairs. 

When something I own breaks down, nothing brings me more pleasure than calling a handyperson or a mechanic I know and having them do all the work. 

I don’t want to know how they “make the hamburger” or do the repair. I just want to know it was “cooked well and delicious” when it’s finished.

At one point in my life, I felt the same way about my 401(k). 

But now, I feel differently. 

Here’s why I started taking an active interest in my 401(k), and why I ditched my target-date fund – and you should, too.

Do you want to generate passive income? Of course you do!

Well, the best way to make passive income is by investing in income-producing assets.

There are risky ways and safe ways to make passive income. Generally, the more risk you take on, the higher return you can make.

Whether you want to invest $1000 or $20,000, this list will have an option that will work for you.

I will start the list with the highest-earning and riskier income-producing assets and work my way down to the lower-producing and safer income-producing asset classes.