1. The type of investment that I would recommend to my friend would be mutual funds because it's good for long term goals such as retirement. Mutual funds are more convenient because it allows my friend's money for $10,000 to be invested in different avenues such as stocks, bonds, money market and others. The fund manager's goal is get capital gains and income for the investor or in this case, my friend.
2. He can also invest his money by buying life insurances that can include health protection. He can also buy a house or a condominium and have it rented. Insurances nowadays give you the option to withdraw your invested money and as for the real estate investment, even if you retire, you can additional income.
