3 Magical Investing Strategies to Grow Your Money
Unfortunately, you can't wave a wand and expect large sums of money to pop up in your bank account. However, you can implement investment strategies that, when done correctly, can produce those same results over time. In fact, the popular S&P 500 index of stocks has earned an 11.9% average annual return since 1928.
Here are three magical investing strategies to grow your money.
To really take full advantage of investing, investors should understand the huge role time can play and let compound interest do a lot of the heavy lifting. Compound interest occurs when the money you earn on investments begins to earn money on itself, and many millionaires have it to thank for their wealth. If you were to make a one-time $10,000 contribution into an investment that returned 10% annually, you would accumulate over $108,000 in 25 years without contributing any additional money.
Source Fool.com
