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3 Paths To Investing $1 Million
Becoming wealthy takes time, but not as much time as you might think. Today’s article looks at three paths to $1 million and the amount of time needed for each.
We’ll look at each strategy in order of difficulty, meaning you’ll see the easiest one first and the hardest last.
Ready?
1st Path: Investing $20,000 Per Year (Regular Job And Basic Personal Finance)
Investing $20,000 per year is something that most middle class citizens of Western countries are entirely capable of. Investing $20,000 per year means having a good job, setting a household budget, and maybe doing some freelancing on weekends.
While $20,000 might look like a big number, it breaks down to about $1,670 per month. That’s a paycheck and side income.
To hit $1 million at this rate, you’d need to consistently invest for 19 years with a 9% average return. While 9% might sound high, it’s about what the S&P 500 historically returns.
If you want to go this route, here are a few strategies to consider:
- Get a job with scaling pay and…
