Meager Income

Pay Off Debt, Retire Comfortably on Meager Income, Win the Lottery, Not Necessarily in that Order

$5000 a year will make you almost a millionaire in 30 years

Posted on | January 18, 2018 | No Comments

A recent article posted on the CNBC site caught my attention. It was an interview with Billionaire investor Ron Baron. He stated that everyone can become wealthy investing in the stock market. A person just has to invest a small amount regularly for a long time and then live a long time. Compounding will do the rest.

He calculated that investing $5000 a year for 30 years it will grow to $890,000 based on historical stock market returns.  Investing for just one decade it would become $110,000 and 20 years $250,000.

I started in Feb 2015 so by 2045 I should have $890,000.  Let’s see how I compare over time.

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