4 Ways to Grow $100,000 Into $1 Million for Retirement Savings
Are you hoping to retire with a million dollars? That might be a bit more or less than you really need to retire with, but for many people, it's a solid goal. If you use the flawed-but-still-helpful 4% rule, you'd be able to withdraw $40,000 from your portfolio in your first year of retirement, adjusting future withdrawals for inflation. Add to that the recent average Social Security benefit of around $22,000 per year, and you're getting close to the kind of income many people can survive on in their non-working years.
Of course, more is better, and amassing more may be very possible for you, too. Here are four ways you might be able to grow $100,000 into $1 million.
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Source Fool.com
