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  • Writer's pictureIshfaaq Peerally

Stock Investing Won’t Make You a Millionaire

About six years ago, I embarked on a journey at the age of 22 to become a millionaire by the age of 30. Six years later, today, I am nowhere near a millionaire. And if you look at how much money I have made over the past six years, only a fraction comes directly from the stock market.

The average investor made 3.6% annual returns in the past 20 years. If they started with $2000, they would need to wait 175 years to become a millionaire. The S&P 500 $SPX500 returns on average 10% annually, at this rate, one needs to wait 65 years to become a millionaire. At the 20% returns of Warren Buffett $BRK.B , you will need to wait 37 years.

The key it to look at the compound interest formula and try to maximize all the factors without increasing the risk.

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