Have $100,000? Here Are 3 Ways to Grow That Money Into $1 Million for Retirement Savings
There are multiple paths to the same destination. It's important to find what works best for you.
If you want to retire a millionaire, you have to first get that first $100,000 under your belt. It's not easy, so congratulations if you've reached that milestone already! It's a big deal because that's where the magic of compounding can begin to take hold and do the heavy lifting for you.
A $100 return on $1,000 is the same percentage-wise as a $10,000 return on $100,000. Yes, compounding is more fun (and noticeable) with larger numbers. Eventually, your money grows faster from your returns than what you add.
Yet, the journey is not over. If you have $100,000 today, it still must increase tenfold for you to retire a millionaire. Fortunately, you have numerous paths available to reach that goal. Here are three ways to grow your $100,000 into a million-dollar nest egg.
