Identifying the monthly sum needed to eventually reach seven figures offers a simple – but critical – lesson about investing.
Finder crunched the numbers on how much you need to invest a month to have $1 million by the age of 50. Michaela Pollock
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There’s a famous, unattributed investing quote that goes something like this: “The best time to invest was yesterday, the second-best time is today.”
This lesson has never been more important because, as a new report by comparison website Finder notes, Australians who aren’t lucky enough to inherit wealth are going to have to put their money to work in the sharemarket as property moves further out of reach.
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Original URL: https://www.afr.com/wealth/investing/1-million-by-50-what-you-need-to-invest-each-month-to-get-there-20241121-p5ksiy
