3 Ways to Grow $100,000 into $1 Million for Retirement Savings
The miraculous thing is that growing $100,000 into $1 million for retirement requires no advanced financial knowledge and no specialized degree. There's also no need to try to figure out which sector will go up next, or which stock is destined to become the next Amazon.
By following a few key principles and getting the basics right, you'll be well on your way to a seven-figure portfolio. Here, we'll look at three tactics to grow your money into and through retirement.
Over time, the U.S. stock market has returned in the neighborhood of 8% to 10% annually. But this long-term return only becomes available to those who are willing to commit to their investment strategy long-term; It's not for those likely to sell at the first sight of market turmoil. Many people turn to broad-market, low-cost index funds to access this return.
Source Fool.com
