Investing a lump sum of £500 a month into UK shares may not appear to be an excellent way to get rich at first glance.
However, I believe that, over the long term, this approach can yield tremendous results. My calculations show it could be possible to turn a relatively small investment of £500 a month into an impressive lump sum of £1m in just a few decades.
Investing in UK shares
Unfortunately, with interest rates where they are today, investors are going to need more than the average savings account to build a million-pound nest egg.
I think UK shares certainly present the perfect alternative. Historically, stocks and shares have been a volatile asset class to own for a short period, say for two or three years. Nevertheless, in the long run, stocks and shares have produced large positive returns. Indeed, over the last 35 years, the FTSE 250… Read more