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2024-08-18 17:41:43

Andrew Lokenauth on Nostr: Make your child a millionaire: When they're born, invest $1,000 into an S&P 500 index ...

Make your child a millionaire:

When they're born, invest $1,000 into an S&P 500 index fund.

Invest $100 every month until they're 21.

At 21, they'll have $109,000 invested.

You can leave this alone and stop adding to it.

At age 50, it should grow to $2.6 million.

Bonus: Teach your child to invest $500/month at 21.

If they continue what you started, by 50 this should grow to $3.9 million.

This is how generational wealth is built.
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npub1050hrq35yxtu64ssp0v2uuwsvwrrtk4zd2g6ml8yrf4wfww4ttgsalu59e