From Nasdaq: 2024-08-04 07:16:00

Looking to build a $1 million nest egg? It’s possible with the right strategy and $500 per month. Compound interest is key, as demonstrated by an example doubling investments every day. Realistically, saving $500 monthly and investing in ETFs with 15% annual returns could get you there in 20 years.

Consider Vanguard S&P 500 Growth ETF (VOOG), with a 15.7% CAGR over 13 years, focusing on growth stocks for long-term gains. Invesco QQQ Trust (QQQ) tracks the NASDAQ 100 index, generating a 14.3% CAGR over twenty years. Both are great options to help turn $500 monthly into $1 million.

Thinking of investing in Vanguard S&P 500 Growth ETF? The Motley Fool identified 10 better stock picks, showcasing potential monster returns. Their Stock Advisor service, consistently outperforming S&P 500, offers expert guidance and new stock picks monthly. Consider the 10 best stocks for potential exponential growth and surpassing $1 million investments.



Read more at Nasdaq: These 2 Simple ETFs Could Turn $500 a Month Into $1 Million.