The goals that you are describing involve growth without any risk, but these two things do not go together. One must assume some risk for the potential of growth. One option to consider is a bond fund with a good rating for performance and low expenses. This could provide monthly income with minimal risk. Second, consider blue chip stocks which pay dividends of 4 to 6 percent. This would increase the level of risk but would give opportunity for growth of principal.
For more information on investing, check out eXtension's "Investing for Your Future".
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