The stock market is one of the simplest and most effective tools for building wealth that lasts a lifetime, but there are many misconceptions when it comes to investing. Many people believe, for example, that you need to be wealthy to make a lot of money in the stock market or you must be a finance guru to build a solid portfolio. While those factors certainly don't hurt, they're not necessary to generate long-term wealth.

It's possible for the average investor to build a million-dollar portfolio with the right strategy. But there are three steps you'll need to take to get there. 

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Source Fool.com