Two simple strategies


Between 1968 and 2002, the S&P 500 returned 6.5% annually. At this rate, if you were to invest $300 a month, you'd get to $1 million in about 46 years. So if you're 20 and you start buying the SPDRs ETF, which mimics the S&P 500, you'll be there by retirement. This is much better than 250 lifetimes.

On the other hand, it's still a long time. I'd rather get there faster, so I'd prefer better-performing stocks. Luckily, it's still easy to find stocks that have higher returns -- value stocks returned 11% a year over the same time period. That would reduce the time to $1 million from 46 to 33 years.

But you know, I'm really impatient. I'd prefer to make my $1 million even more quickly.


http://www.fool.com/investing/value/...1-million.aspx

 

We started the 350 per month with our daughters 7 years ago, 39 years from now both of my kids will be millionaires and I will be a millionaires Dad. Of course they will get there with my money.