How much do I need to invest to get $500 a month?
Building a portfolio valued at 1,000,000 US dollars through regular investing depends heavily on your monthly contributions, expected rate of return, and time horizon. For instance, assuming an annualized stock market return of 8 percent, investing approximately 300 US dollars every month over a 35-year period will accumulate to roughly 1 million dollars. If you have a shorter 20-year time horizon with the same 8 percent return assumption, you would need to increase your monthly investment contributions to roughly 1,500 US dollars to reach the millionaire milestone.
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