Want to Get Your Portfolio to $1 Million in 20 Years? Here's How Much You Should Invest Every Month.
If you want to grow your portfolio to $1 million or more within 20 years, you don't need a huge lump sum right now. One way to get around that is by investing regularly every month. That way, you benefit from the effects of compounding over time.
As your income grows, you can also invest more money to help accelerate your gains. And by investing in a growth-focused exchange-traded fund (ETF), you can minimize just how big a monthly investment you need to make.
Ideally, you would start investing for your future in your 20s. By doing so, the monthly payment you would need to grow your portfolio to $1 million will be lower. Unfortunately, it doesn't often work out that way.
Source Fool.com
