Inflation has undoubtedly changed how far your money stretches, but there’s no denying that being a millionaire has a nice ring to it. For most people, seeing seven figures brings a sense of accomplishment and financial security.

The good news is that, as it has for decades, the stock market continues to mint millionaires. Thanks to the power of time and compound earnings, everyday investors have a path to $1 million. Let’s take a look at how it can be done.

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Lean on dollar-cost averaging

Dollar-cost averaging involves setting a regular investment schedule and sticking to it, no matter what’s happening in the market. For example, assume you have $1,000 to invest monthly in the S&P 500 (^GSPC -0.77%). You…