History Says This Investment Strategy Can Build a $1 Million Portfolio. Here's How.
With enough time, discipline, and consistency, this strategy can get most people to the $1 million mark.
Overview
The idea of building a $1 million portfolio might sound more daunting than climbing Mt. Everest. In reality, it's more achievable than you probably think. With enough time, discipline, and the right mix of investments, the long-term power of compounding can get you to the $1 million mark and beyond!
Just take a look at history. If you invested $10,000 in the S&P 500 (SNPINDEX: ^GSPC) at the beginning of 1996, it would have grown to roughly $214,000 with dividends reinvested. Now, that's clearly not $1 million, but that's how large it grew with a one-time investment. Imagine how big it could get if you added a modest monthly investment to it over all those years.
Details
This is why the idea of regular, consistent investing over time is one of the best pathways to millionaire status.
Source
Originally published at www.fool.com.