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  • lukeparsons5

This Is How £1,000 Can Make You A Millionaire

Updated: Nov 3, 2021

Have you ever wondered how long it would take for £1,000 to make you a millionaire? Well, I have.

In this article I will share with you exactly how long it would take, and how much you would need to contribute every month to achieve this goal.

From £1k to £1M, is it really possible?

Someone's sitting in the shade today because someone planted a tree a long time ago.”

A beautiful quote from the most successful investor of all time, Warren Buffett.

However, there is an important message in his words.

To create something great, it only takes a little bit of effort and patience.

And that is certainly true of long-term investing.

£1,000 might not sound like much, but what you can do with it is pretty amazing if you are disciplined and patient. £1,000 could buy you a pretty decent weekend getaway, or it could make you a millionaire.

Here's how...

How £1,000 Can Make You A Millionaire

Lets assume you are 20 years old, and through building some sensible spending habits early on in your life you've saved £1,000, and you want to invest it in a Stocks & Shares ISA.

You've also worked out that with your salary and outgoing expenses you have £200 left over to invest every month. And you know through your research that the average annual return of the stock market is 8%.

How long would it take to turn that into £1,000,000?

Well, lets hand over to our trusted compound interest calculator to find out...

As you can see with these results, it would take just over 45 years to turn that £1,000 into £1,000,000!

So by the time you are 65, when you hit retirement age, you'd be a millionaire!

And this doesn't even take into account that as you get older, you naturally earn more money (career progress, wage increases etc.) so you may be able to contribute more in future and possibly reach millionaire status before you turn 60.

This could be you, if you believe in the process and are willing to be patient.

Even if you're 35 years old and only have £1,000, if you contributed £200 per month until you were 60 you'd have this...

Nearly £200k. No savings account will ever get anywhere close to these levels of returns!

I'm probably beginning to sound like a broken record already, but I just want to help as many people understand as possible that there IS a road to financial freedom, and it is much easier than you think. You don't have to be a business owner or a lottery winner to become a millionaire. And in future, there will be more ISA millionaires than ever before thanks to following this investing method.

You could be the next one!

Start investing today with a 0% commission account with Trading212, and earn a free share up to £100 using my link!


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