“It’s never too late to retire early”

All it takes to succeed is time and investments in solid companies

All it takes to succeed is time and investments in solid companies

If you want to be a millionaire, you’re not alone. The $1 million milestone is the ultimate goal for many Americans as they seek the financial security and personal power that being a millionaire gives them.

Investing in the stock market is a great way to reach your millionaire aspirations. Even those with modest savings can get there. But be forewarned: it’ll take time. Investing $300 a month at the 8% average return that a typical portfolio of stock index funds and other investments has generated historically, you’ll have to put in 40 years of hard work to hit the $1 million mark.

The right stocks can beat the market and shorten the journey. Boost your return to somewhere between 10% and 15%, and you’ll become a millionaire five to 15 years sooner. Achieve even better returns, and you’ll reach your goal even earlier.

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Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money