I recommend, with only $100, you buy the Vanguard Index (VFINX). It is designed to mirrior the S&P 500, but is much cheaper.
With a 12% return (which is about what the Vanguard Index will get you) it will take 81 years for $100 to get to $1Million.
If you made annual payments of $100, it would only take 63 years.
If you made annual payments of $1,200 ($100 a month) it would take 41 years.
The key in all of it is time and don't take any money out. Let it compound every year and before you (or your grandkids) know it, that will be a large sum of money!
2007-02-25 12:52:21
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answer #1
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answered by Justyn 2
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The best thing you could do with $100 right now is invest in The Prosper Marketplace. You can quickly turn that $100 into a few thousand by investing in higj-interest loans that yield up to 30% interest. I have $1400 invested so far and I have been earning a steady average of 22%. Not too shabby. Visit Prosper and join the Sturzstrom Funding Investment Group for the best rates and service.
2007-02-25 21:05:29
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answer #2
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answered by Anonymous
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Buy something that's worth $200. and resell it. Use the $200. to buy something worth $400. and resell it. Use the $400. to buy something worth $800. and resell it . . . etc. By constantly doubling your investment, you'll reach a million fairly quickly. The catch, of course, is that you have to know what you're doing . . . the value of whatever category of things you're buying . . . presumably some variety of antiques work best. Obviously you eventually reach a point where you're either an expert in valuable art or you're dabbling in real estate, etc., etc., etc. . . . high end items. To avoid this, when you reach, say, the $5,000 level, you may want to divide it into buying two $2,500 items each worth $5,000, or five $1,000 items each worth $2,000. etc. But you get the idea!
2007-02-25 21:15:46
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answer #3
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answered by worldinspector 5
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Buy lotto tickets.
2007-02-26 06:31:57
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answer #4
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answered by Geeeyaaa 4
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I agree with the prosper answer. I just started mine and thanks to you all because I got it from this site.
2007-02-25 21:47:10
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answer #5
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answered by Anonymous
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