Consistency, patience and time often work together.
In this hypothetical example, if you invested $500 every month for 50 years and earned a 5% annual return, your savings could reach nearly $1.28 million.
Contributions would equal just $300,000 of this total, while investment growth would account for the largest share — about $979,000.
The key to maximizing the power of compound growth? Start saving as early as possible, make regular contributions and keep your money invested.
