$10

Per Day To Half A Million

When you were young, $10 was a lot of money. If a family member gave you a $10 bill with Alexander Hamilton's eye's piercing your eyes you thought you were rich. $10 a day with zero investing knowledge could make you half a million in the next 30 years. Here is how.

What investing $10 a day for 30 years would do for you

A starting amount of $100 and a weekly contribution of $70 per week for 30 years at a 9% return would result in $561,440.

What is $10 worth to you?

If you happen to be someone who makes $50,000, after taxes you're looking at a monthly take-home income of about $3,000 per month. So investing $10 a day would equate to investing 10% of your monthly take-home.

The issue with investing just $10 per day

Investing $10 a day for 10 years does not make you rich. You're not scratching the surface of the 25x Retirement Rule, but it is a start.

How to start investing your way to half a million

Investing in stock index funds is simple and really not scary. I simply went to Vanguard's website, created a brokerage account and bought my first Vanguard S&P 500 ETF also known as VOO.

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