How to make a $1 million dollars from a $250 per week investment. It is interesting to hear the BBQ talk about investing. “I made $200,000 on my investment property. I doubled my money on this share.”
Ultimately, if it can’t be replicated, it is not a proven strategy.
This is a tip for someone who has limited existing savings and would like to start a regular investment. If you start with $2,000 and save $250 per month with a return of 10%, you should reach $50,000 in a bit over 3 years time (a home deposit).
If you continued this strategy for 22 years, you should have over a $1 million dollars.
This is due to compounding interest. As the investment grows the 10% dollar return increases. 10% on $10,000 is $1,000, however, on $1 million dollars, it is $100,000.