Can you invest and become a millionaire?

fool.com - 1 Investment That Could Make You a Millionaire in 30 Years

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Awaken your dormant DNA ability to attract wealth effortlessly

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Investing in the stock market is one of the most effective ways to build wealth, and it's even possible to reach millionaire status. While you don't need to be wealthy to become a stock market millionaire, you do need the right investments. Your portfolio can make or break your earnings potential, so choosing the right stocks is key. Fortunately, it's easier than you might think to build a million-dollar portfolio. With this one investment, you could potentially save $1 million or more with next to no effort on your part.

Investing in the right places

Whether you're new to the stock market or simply prefer a low-maintenance investing approach, one of your best options is an S&P 500 exchange-traded fund (ETF). This type of investment follows the S&P 500 index as a whole, aiming to replicate its performance. In other words, when you invest in an S&P 500 ETF, you instantly own stock in 500 of the largest and strongest companies in the U.S. Because this fund only includes stocks from the most successful organizations, that gives your investments a good chance of growing over time. Of course, all stocks can be subject to short-term downturns. But stronger companies are more likely to survive volatility, and when you have hundreds of those stocks in your portfolio, an S&P 500 ETF is almost guaranteed to eventually bounce back from market downturns.

Becoming a millionaire

The stock market is constantly fluctuating, so your annual returns will vary from year to year. Over the long term, however, you're more likely to see consistent growth. Historically, the S&P 500 has earned an average rate of return of around 10% per year. Some years you'll see much higher returns than that, while in other years you could see below-average returns or even losses. But over time, those highs and lows should average out to roughly 10% per year. If you're earning a 10% average annual return, investing just over $500 per month would make you a millionaire within 30 years. What if you can't afford to invest $500 per month, though? That's OK. The longer you leave your money invested, the less you'll need to save each month. Conversely, the more you invest each month, the more you can earn in a shorter amount of time. Number of Years Amount Invested per Month (Earning a 10% Average Annual Return) Total Savings 40 $200 $1.062 million 30 $515 $1.017 million 20 $1,500 $1.031 million Keep in mind, too, that S&P 500 ETFs are low-maintenance investments that require zero effort on your part. You never need to research individual stocks or decide when to buy or sell. All you have to do is invest as much as you can afford each month, then sit back and wait for your money to grow. Becoming a stock market millionaire isn't easy, but it is possible. By taking advantage of the right investments and keeping a long-term outlook, you can earn more than you might think.

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Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

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Do I have to pay taxes if I flip a house?

Typically, house flipping is not considered to be passive investing by the IRS, and as active income, the investor will need to pay normal income taxes on their net profits within the financial year. These taxes commonly include federal income tax, state income tax, and taxes for self-employment.

newsilver.com - How Much Tax Will I Pay If I Flip A House? - New Silver

After you’ve successfully sold a flip for a profit, it’s time for the inevitable that comes with every big transaction: paying taxes. If you have not flipped a house before, you may be wondering, how much tax will you have to pay if you flip a house? The answer is that the taxable amount owed can vary depending on the property type, the investor’s income, and other factors we’ll cover in-depth below. As lucrative as fix and flips can be in terms of profits , the tax associated with these projects can be high unless you know how to minimize them. This article will teach you everything you need to know about fix and flip taxes – how much you are expected to pay, when these payments are due and the best strategies to help you save. There are also set tax benefits that you can gain the advantage of by flipping houses if you know what they are and how to apply them effectively. Keep reading to find out exactly how much tax you will be liable for if you flip a house this year and the best way to save:

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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

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Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

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What is the error on a 1982 penny?

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