In 2017 a new client came to me in their 60s. She had very little money, didn’t have any experience with investing and wanted to create some wealth for her  newborn grandchild. I told her that one of the key elements in whether investing is going to be successful, is being able to put aside money, every month, consistently, purely for investment purposes.

My client only had $10 spare change every month to invest, her grandchild is now 6 and is on their way to becoming a millionaire. I showed her how she could consistently investing that $10 a month was going into ensure her a grandchild becomes wealthy.

Let’s dive into the figures.

Using the Compound Interest Calculator, I showed her that if she was able to invest $10 a month, every month, for 20 years, for her grandchild, based on an average interest rate of 8%, she would have $5,538.05 after 20 years. Not much huh?

How could she turn that $5k into something bigger?

The key was in being able to show her grandchild, as they got older, that if they were able to continue her investing efforts and use that initial $5k as a head start to their future wealth, they would be able to retire as a millionaire.

How to turn $5k into a Millionaire Retirement

If my client’s grandchild, as she became a young adult, was able to make a contribution of $300 a month for 40 years, based on an 8% average interest rate (plus the $5k from her grandmother), her investment could grow to $1million. Here’s how it’s looking using the Compound Interest Calculator:

Your money Invested will give you a great return on investment than being kept in your checking account.

Investing Share Change now will create generational wealth for your family! The lesson here, is even if you only have a small amount to invest every month, get started today. Involve your children and grandchildren in learning financial literacy and investing. The small amount that you can provide for them can be grown into something much bigger by the time they retire!

Now let’s look at how far investing $50 a month can take you.

The above calculation shows that by investing $50 a month for 40 years, based on an average 8% interest rate, you will have over $750k after 40 years.

As you can see from the above calculations, using spare change you can become a millionaire.

Warren Buffet was once asked why doesn’t everyone copy you? He replied, ‘no one wants to get rich SLOWLY.’

But slowly is better than never!

Nothing good ever came quickly. It takes work. But by persevering and keeping at it, you will get there.

Investing consistently, every month, is the success to Investing. Can you commit to investing a small amount every month, long term?

My professional consulting

I professionally consult with muslim families to help them create generational wealth so their kids can retire as millionaires!

Get started today by booking in a 1:1 consultation with me.

Check out my re-launched Muslim Women Invest podcast

I’ve just relaunched my podcast Muslim Women Invest which I’d love for you to check out. These are short 15 minute episodes on a range of financial and investment topics that you can consume on the go.

Listen to it using your favorite player below:

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