How $500 a month in ASX shares could become $1 million
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For many investors, the idea of becoming a millionaire feels out of reach, especially if you’re starting small. But thanks to the power of compounding, even modest, consistent investments can grow into something substantial over time.
Let’s explore how investing just $500 per month in ASX shares could grow to $1 million, and the strategies that can help you get there.
The power of compounding
Compounding is what happens when your returns earn returns. It is a snowball effect: the longer you invest, the faster your portfolio can grow, even if your contributions remain the same.
If you invest $500 per month and achieve an average 10% annual return (which isn’t guaranteed but is achievable over long…
