If Im 56 this year with 600k earning interest of 2.28% and using the interest of about 1k a month to invest is that considered risk free investing.

Depends on your risk horizon. I think you can afford to take some risk if you want to beat inflation

I am a year younger than you only. Here's what I invested in.

• T-bills (6 monthly). I like the risk free and steady income. The rates are a bit higher than FD even though it has been lowered this year.
• SSB (10 years). I have locked in a good rates over the last 2 years. I like the 10 years timeframe that it continues to pay me the higher rates from 1-2 years ago.
• REITS. Invest in good local sponsor that pay dividends of 5.5%. I have been accumulating in the last 1-2 years at depressed price while it continues to pay me 5.5% dividends.
• US and HK stocks for growth. Invest mainly in Mag7 stocks. This has higher risk and it is for income growth. The rewards are good over the long term if I am right.

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