Here's an idea, since Clarence already pointed out the very conservative approach you can do. I wrote this article for this kind of scenario. https://www.moneymaverickofficial.com/post/why-you-should-invest-aggressively-now-and-how-you-still-can-have-peace-of-mind Take an aggressive approach. Statistically, any portfolio that has a 20 year horizon or above, with Dollar-Cost-Averaging like yours ($1000/mth or $12000 a year) can afford to go 100% equities. You have a couple of options (non-inflation adjusted) 1) Take riskier, concentrated positions and go for 13% or higher annualized - you'll have about $1mil in less than 20 years. 2) Take a diversified global portfolio option but with 100% equities. With rebalancing that I offer on my end, you could try for a decent 8% net of fees easily. So again, you could get $1mil in about 20 years, letting it roll for 7 more years for considerable less risk. I would recommend this option if you don't have a lot of investment experience. In any case, you can see from both cases that you can retire well before 60. To cope with inflation, we can turn your lump sum into a variable annuity - meaning that we'll strategically calculate how much money should be withdrawn along with your dividend to match inflation and you'll be dead before the entire sum is used up. We'll also adjust your portfolio as you get older to make this end result more favorable. Go big, since you're already starting so young and investing an amount that's pretty high for your age. For illustration, here's a successful recipient of example number 1 - his capital was $12,000 in December 2018, and it's this much now. ! Do feel free to contact me if you'd like help, as I'm an investment specialist. https://www.facebook.com/luke.ho.54