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I'm 31, make $48K/year and can only afford to invest $120 per month. Can I even build real wealth in America with such measly contributions?


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In an article on MSN Money, a 31-year-old individual earning $48,000 annually discusses the challenge of building wealth in America with a limited investment capacity of $120 per month. Financial experts suggest that while the amount seems small, consistent investing over time can still lead to significant growth due to compound interest. They recommend focusing on low-cost index funds, increasing contributions with any salary raises, and maintaining a long-term perspective. Additionally, experts emphasize the importance of managing debt, living within one's means, and possibly seeking additional income sources to enhance investment potential. The article underscores that while the journey to wealth might be slower with modest contributions, it remains achievable with discipline and strategic financial planning.

Read the Full Moneywise Article at:
[ https://www.msn.com/en-us/money/personalfinance/i-m-31-make-48k-year-and-can-only-afford-to-invest-120-per-month-can-i-even-build-real-wealth-in-america-with-such-measly-contributions/ar-AA1CN16w ]

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