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Have $100,000? Here Are 5 Ways to Grow That Money Into $1 Million for Retirement Savings


Published on 2025-01-12 19:21:20 - MSN
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  • Are you aiming to amass $1 million for retirement? That's a great goal -- though some would have you question whether that will be enough. Whether you have $100,000 right now or you're starting from scratch,

The article from MSN Money outlines five strategies for growing $100,000 into $1 million for retirement savings. First, it suggests investing in the stock market, particularly through diversified funds like index funds or ETFs, which historically offer about a 7% annual return. Second, real estate investment is recommended, either through direct property ownership or via REITs, which can provide both income and capital appreciation. Third, starting or investing in a business can potentially yield high returns, though it comes with higher risk. Fourth, the article discusses the benefits of tax-advantaged retirement accounts like IRAs or 401(k)s, which can enhance growth through tax savings. Lastly, it emphasizes the importance of reinvesting dividends and interest to compound growth over time. Each method involves different levels of risk, time commitment, and potential returns, tailored to different investor profiles and retirement timelines.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/have-100-000-here-are-5-ways-to-grow-that-money-into-1-million-for-retirement-savings/ar-BB1rjDjo ]