(FORTUNE Magazine) – AT TIMES our aspirations seem no more than wishful dreams. With a sluggish global economy, a tight job market, slumping housing values, and rising costs for such essentials as health care and tuition, the odds of achieving financial prosperity appear ever more remote. They're not. But the path to prosperity has indeed taken some new twists. No longer can we reach our objectives simply by putting cash in a high-yielding money market fund or CD. Today the path to financial success requires skillful, tax-wise investing. It also demands a willingness to take on risks. Not reckless speculation, mind you, but prudent ventures into stocks, bonds, and other longer-term investments. Unfortunately, many investors still believe they can keep their money growing in that risk-free greenhouse, the money market fund. Despite low interest rates, individuals still have some $384 billion in such funds. Another $2 trillion or so lies in short-term deposits, like CDs. Wake up, world. The great lesson of the past year is that such ''safe'' money is at greater risk than most of us realized. CDs and money funds will shield you from the gyrations of the stock market or a sudden drop in bond prices -- the obvious risks. But such short-term fare exposes you to another peril -- that when you least expect it, your income stream can dry up. Professional investors call this ''income volatility.'' Call it what you want but know that it can be as devastating to your financial future as a falling stock market. Ask any retiree who has just seen his or her high-yielding CD mature and now faces reinvesting that money, for crumbs. All things considered, long-term securities like stocks and bonds are a better bet. The world today offers an expanded realm of opportunity for profitable long- term commitments. Borders have opened up in Eastern Europe. In Asia the People's Republic of China is experimenting with two new stock exchanges. Here in the U.S., the economy remains weak, but businesses are growing more competitive every day. Within those developments lie potential gold mines for investors who know how to spot them. Don't shy away in the belief that these investments are beyond your reach. Small investors today can easily buy everything from Canadian bonds to German stocks to a slice of the American mortgage market. The world, and all its opportunities, are at your fingertips. The time is good to make your move.