How to Turn $10,000 Into $1,000,000 by Retirement
You don't need a fortune to start saving for retirement. If you start early and put money aside into quality investments, that can set you up for some significant long-term gains in the future, making for an easier retirement. Below, I'll show you how a $10,000 investment can turn in to $1 million by the time you retire, and I'll give examples of stocks that can help you achieve those types of gains.
For a $10,000 investment to grow to $1 million, it would have to be a 100-bagger. That's not the type of return you would expect to achieve in a short time frame. You would likely need to remain invested for not just years but decades. It also depends on the type of return your investment generates. Here's a look at what your potential returns look like if you averaged gains between 11% and 15%, which is higher than the S&P 500's long-term average of 10%:
Source Fool.com
