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BY DR. GLENN MOLLETTE

The average stock market return has been about 10% every year for nearly the last century, as measured by the S&P 500 index. In some years, the market returns more than that, and in other years it returns less. Talk to a stockbroker or someone who works with Individual Retirement Accounts, or do internet research before investing.

You want to invest safely and wisely. You do not want to lose your money and there is no reason to do so. Locate a couple of stock funds that have paid at least 10% over the last 15 years and you should be okay to move forward with investing.

It is not easy to save money if you do not make much money. People on minimum wage incomes can barely buy groceries and pay rent. What if you could put $100 a month into a S & P Index Fund? Let’s say you are 25 years old and struggling to scrape by, but you are going to set a goal of investing $100 a month into stock. This may mean some sacrifice, but anything good always requires some sacrifice.

If you are 25 years old and commit to at least setting aside $100 a month into stock, then at an assumed return rate of 10%, you will have $585,422.17 when you are 65 years old. There are a lot of 65-year-old people who do not have that much money. You can have that much if you start now while you are young.

If you can start younger than age 25 then you will have even more. By the time you are 30 or 40 you can maybe start putting an extra $100 or $200 more into your fund and it will grow all the more.

Let’s say your hard work pays off, and on average, you end up saving $300 a month for 40 years. Your amount of savings at the historical average rate of return will be $1,593,333.20. We are not talking about saving massive amounts of money but simply sticking with a monthly and yearly commitment to investing.

Possibly you are 50 years old and just finally able to save a little. Fifty is a late age to start. However, if most of your bills are paid and you commit to saving $500 a month in your stock fund till age 67, you can still end up with $243,268.22. There are many people who do not have this much money. You can if you commit to making a smart monthly investment.

We cannot take money with us when we die. We leave it all behind, but it helps pay the bills and buy ice cream while in this world. If you do save a big bunch of money and do not live to enjoy it, then your spouse, kids, church or favorite charity will enjoy it in your honor.

The Bible says, “Wealth obtained by fraud will dwindle, but whoever earns it through labor will multiply it.” (Proverbs 13:11)

Want some money? Work hard and save a little every month. Eventually you will have plenty.

(Dr. Glenn Mollette is a graduate of numerous schools, including Georgetown College and Southern and Lexington seminaries in Kentucky. His column is published weekly in over 600 publications in all 50 states.)