How to Turn $10,000 Into Over $1,000,000 by the Time You Retire
Becoming a millionaire is a goal for many, but actually achieving a seven-figure net worth is another game entirely. The good news is that accomplishing the feat is definitely possible with the help of a few simple behaviors over the course of your working career.
Here, we'll review how you can turn $10,000 into $1,000,000 even before it's time to collect your first Social Security payment.
First, let's assume you're 25 and plan to work in a formal career until age 65, and you've saved up $10,000 from working side hustles throughout your teenage years. Assuming broad markets perform similarly to how they have over the past century, you expect a 10% return on all invested money. Finally, you simply use index funds in your 401(k) and other investment accounts, and you generally stay away from picking any single stocks.
Source Fool.com
