How to Turn $50,000 Into $1 Million by the Time You Retire
There's no denying $1 million isn't the head-turning measure of wealth it used to be. The U.S. Census Bureau estimates that about one out of every 10 people living in the U.S. is worth a million bucks, if not more. Nevertheless, a $1 million retirement nest egg would be a great source of comfort for most working-class Americans.
The thing is, a seven-figure stash actually isn't out of reach for most of us. The key is using all the time you have, and doing smart things with your seed money. In this case, "smart" just means getting into the market and leaving your investments alone for as long as you can. A modest $50,000 now could easily get you to $1 million in less than a lifetime.
Sounds impossible? It isn't. I'll even show you the math, in pictures. But first things first.
Source Fool.com
