How Much Should I Invest In Stocks Per Month From Age 20 To Become A Millionaire At The Age Of 40? And Which Stocks Should I Invest In?

How much should I invest in stocks per month from age 20 to become millionaire at the age of 40? And which stocks should I invest now?

How much should I invest in stocks per month from age 20 to become millionaire at the age of 40? And which stocks should I invest now?

To figure out how much money you want to invest, you need to ask yourself how extreme you’re willing to go. An example would be making $800 every two weeks and putting $500-$600 into an investment portfolio.

By the age of 40, you will have an investment value of $679,579 (this is assuming that the rate of return is 7%). Now let us look at a more conservative point of view when it comes to investing just $600 a month.

When you reach the age of 40, your investment will be worth $312,960 at retirement. That is still not a bad number at all to have after 40 years of investing.

So to answer the question of what it’s going to take to become a millionaire, The most extreme you will need to go is investing around $2,000 a month. over a period of 20, according to Acorns Compound Interest Calculator, You will have a balance of $1,047,931.

If you want to speed up the possibility of becoming a millionaire faster investing your money then adding dividend stocks to the portfolio (and reinvesting that money into more stocks) will do the trick.

What I am doing right now is buying fractional shares of dividend stocks that pay monthly and then reinvest that money to grow my investment over time.

Which stocks should I invest now?

The stocks that you need to invest your money in is big company stocks, ETFs, REITs, and any other stock that pays out dividends. I suggest to really do your research to find out how you want to diversify your portfolio because that is a good way to avoid risk when it comes to investing.

Below is a list of dividend stocks that someone from Reddit posted that pays dividends.

This is the first 50 from my spreadsheet. You can download the entire portfolio spreadsheet on the link in the video

Canoe Financial – EIT Income Fund

Middlefield Funds – MINT Income Fund

Middlefield Funds – Global Dividend Growers Income Fund

Middlefield Funds – European Dividend Income Fund

Middlefield Funds – Pathfinder Income Fund

Brompton Funds – Blue Ribbon Income Fund

Brompton Funds – Canadian High Income Fund

Brookfield – Global Infrastructure Securities Income Fund

Brookfield – Select Opportunities Income Fund

Brookfield Renewable Partners

Brookfield Property Partners

Harvest – Brand Leaders Income Fund

Harvest – Global Telecom & Utilities Income Fund

Strathbridge – Canadian Utilities & Telecom Income Fund

Quadravest – Income Financial Trust

PIMCO – Global Income Opportunities Fund

Manulife – Floating Rate Senior Loan Fund

CI Investments – Precious Metals and Mining Trust

CI Investments – Sentry Select Primary Metals Corp

BMO – Canada High Dividend Covered Call

BMO – U.S. High Dividend Covered Call

BMO – Europe High Dividend Covered Call

BMO Global High Dividend Covered Call

BMO – Covered Call Utilities

BMO – High Yield U.S. Corporate Bond

BMO – U.S. Put Write

Horizons – Enhanced Income International Equity

Horizons – Marijuana Life Sciences Index

Horizons – China High Dividend Yield Index

CI First Asset – Tech Giants Covered Call

CI First Asset – Energy Giants Covered Call

Brompton Funds – Global Healthcare Income & Growth

Middlefield Funds – REIT Indexplus

Hamilton Australian Financials Yield

Quadravest – Dividend 15 Split Corp

Quadravest – Financial 15 Split Corp

Quadravest – Canadian Banc Corp

Quadravest – TDb Split Corp

Quadravest – Canadian Life Split Corp

Quadravest – M Split Corp

Brompton Funds – Life & Banc Split Corp

Brompton Funds – Split Banc Corp

Brompton Funds – Global Dividend Growth Split Corp

Strathbridge – Premium Income Corp

Middlefield Funds – E Split Corp

Harvest – Big Pharma Split Corp

PRO REIT

https://www.reddit.com/r/dividends/comments/fuxkpf/living_off_dividends_avg_1000_a_week_during/

I suggest buying fractional shares (if you can’t afford the whole share) of these stocks or all of them. Always make sure that all those dividend payments are being reinvested back into the stocks that you want to grow your holdings with.

Closing Thoughts

If you want to achieve that goal of becoming a millionaire by 40 then you need to build a habit of investing a good amount of your money. Don’t for one second think that it is unattainable to achieve any goal. You can do it!

Thank you for all that are supporting The Finance Starter and don’t forget to send this blog post to someone else that could benefit from reading it.

This question was asked on Quora and I decided to answer it on my personal blog. I am testing the waters with this new style and hopefully it goes well (trying to expand my reach and increase visits)

How much should I invest in stocks per month from age 20 to become millionaire at the age of 40? And which stocks should I invest now?