Could Investing $50,000 Into S&P 500 Index Funds Be Enough to Get Your Portfolio to $1 Million by Retirement?
The old adage that you need money to make money is true, as the benefits of compounding are greater when an investment balance is large. Consider that the S&P 500 (SNPINDEX: ^GSPC) has averaged an annual return of 10% for decades. That means an investment might, on average, double after just over seven years. But if someone were to invest $1,000,