The goal of Multiply My Money is to help you lead a life of financial comfort. $1,000,000 is the financial goal that most people aim to hit to have basic financial security. It is possible to become a millionaire by undertaking many different paths. One of the paths to building wealth is through investing. Investing in the stock market can build wealth for anyone over time. This just requires consistently investing in the right risk assets over a fixed period of time. The whiteboard video above will demonstrate exactly how much money you need to invest in a basic index fund to hit the $1,000,000 level in 30 years.
- Starting investment amount: $1000
- Investment vehicle: S&P500 exchange traded fund
- Average annual return: 9 percent(*excluding taxes)