You're More of a Money Expert Than You Think
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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