A decade-long investing journey from scratch to a staggering $200,000 is a remarkable feat, especially when you consider it took the investor seven years to reach the first $100,000 milestone and just three years to double it. This inspiring story, shared on Reddit’s r/investing community, highlights the power of compound gains and the importance of patience in investing.
The investor, now 35, began his journey in 2013 by setting up automatic contributions from his bank account to his eTrade stock investing account. Initially, these contributions were as low as $100, but he gradually increased them over time. By December 2020, his combined Roth and traditional brokerage accounts had reached an impressive $100,000.
What’s even more remarkable is that the investor achieved this growth without resorting to get-rich-quick schemes or day trading. Instead, he adopted a buy-and-hold strategy, focusing on quality investments and avoiding the temptation to chase quick profits. “Don’t rush the process,” he advises young investors. “Stick with it, and don’t try to hit home runs every day.”
The investor’s portfolio consists of a mix of established companies with a history of profitability and growth. Some of his top picks include Apple, Meta Platforms, Costco, Home Depot, McDonald’s, DraftKings, Advanced Micro Devices, and Bank of America. These companies have demonstrated resilience and adaptability in their respective industries, making them attractive long-term investments.
When asked about his investment approach, the Redditor emphasized the importance of fundamental and technical analysis. He looks for companies with a proven track record of success, buying at discounted prices when possible. “There’s really nothing super special to it,” he humbly admits.
As the investor continues to work towards his goal of reaching $1 million by age 47 and eventually $2.5 million before retirement, his story serves as a testament to the power of disciplined investing and patience. By adopting a similar approach and avoiding the pitfalls of impulsive decision-making, anyone can achieve remarkable growth in their investments over time.
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