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You're More of a Money Expert Than You Think

Be the tortoise, not the hare. Aim for long-term success.

Patience

Finally, you probably understand the necessity of patience. You know you will have to save diligently for a while to accumulate a down payment on a home, for example. In investing, you'll also have to be patient. A portfolio that starts with a value of $25,000 will turn into almost $65,000 over a decade, if it rises at the stock market's long-term average annual growth rate of 10%. Over 20 years, though, it can top $168,000, and over 30 years, $436,000. (And that's without any additional investments made to it.) If you buy into a great company, you might make some good money within a year or three, but if you hang on for many years (as long it's still healthy and growing), you can make far more. Patience pays.

You already have a lot of what it takes to invest well. Take a little time to learn more, and there's no telling how well you can do.

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The article You're More of a Money Expert Than You Think originally appeared on Fool.com.

Longtime Fool specialist Selena Maranjian,whom you canfollow on Twitter , has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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