Here's part 5 of a piece from Bankrate that tells how to become a millionaire in seven "easy" steps:
5. Make your money work for you. It takes money to make money, but that doesn't mean you need a lot to invest. Open an account with a mutual fund company that has no-load funds and low expense ratios. Build a diverse portfolio and you can reasonably expect to earn 8 percent to 10 percent annually on your investments over the long haul.
Basic investment 101 advice. Simple, but true. You can read more on how to get a good return on your money by checking out these links:
- Getting Rich is Simpler than You Think
- How Average Joes Can Retire Rich
- 13 Unconventional Investments
- Fund Indexers, Take (Another) Bow
- Part-Time Investing
- 4 Habits of Successful Investors
- Expenses, Taxes and Size Matter in Choosing Bond Funds (And Stocks too!)
- Where the Pros Stash Their Own Dough
- Stress-Free Investing in Four Easy Steps
- Almost Infinite Investment Return
- Do You Have Enough Time to Invest Like You Want To?
- How to Retire Rich: Use the Power of Compounding
- The Case for Indexing
- Investment Advice from Someone Who Manages Billions
Click here to read part 6 of this series.
Free Money Finance recommends Emigrant Direct.
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