Here's How Long It Could Realistically Take to Turn $25,000 Into $1 Million
Betting on crypto and meme stocks has made many people rich, but it's also caused significant losses for those who haven't been as lucky. Investing for the long term is safer, and it's much more likely that you'll end up with a big profit in the end. There's no sugar-coating it: It does require patience. And below, I'll show you just how long it may take for an investment of $25,000 to get to $1 million, without having to take risks to score a windfall.
It may seem trivial, but even a difference of a percentage point or two can have a dramatic impact on your investment. If your $25,000 investment averaged an 11% growth rate, it would take 36 years of compounding before it would reach $1 million. At a 13% growth rate, you would hit that mark at the end of year 31. And if you've got a top-performing investment that has been rising by an average of 15%, then it would take 27 years to hit $1 million.
Source Fool.com
