You CAN'T Save Your Way To Millionaire Status!

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2 years ago
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The average annualized return since its inception in 1928 through Dec. 31, 2022, is 9.82%. Therefore investing £500 a month into the S%P 500 could return over £1,000,000 in 30 years. Far better than the 83 years which requires you to invest £1,000 a month. Of course inflation is a problem with both areas, but one at least mitigates somewhat against it, whilst the other just loses value because of it.

Also the S&P 500 does not consistently post the same returns. There are years or months when returns are higher, but also others where it is lower.

There are risks with investments, but one risk that is almost guaranteed, in fact I'd say is certain, is that your money being saved is losing value daily and even if you managed to save for 83 years, that million pound would be worth so much less.

Now if you saved £1,000 a month for 30 years, you would have over £2,000,000 (just for those moaning about the value in 30 years time).

Remember the goal is to get your money working as hard as possible for you, not for others!

#invest #stocks #shares #wealth #personalfinance #money #investing #saving #save #rich #millionaire

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