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How to Turn $200 a Month into $500,000

Motley Fool Staff, Robert Brokamp, CFP, Dylan Lewis, and Jason Moser, The Motley Fool

Albert Einstein reportedly called compound interest the 8th wonder of the world.

We call it "your golden ticket to financial independence."

With three numbers and the right attitude, you can reach financial freedom with the help of compound interest and a long time horizon.

If you do it right, you can take less than what you'd spend eating out for lunch in a month ($200) and over time turn it into a half a million dollar nest egg for your retirement.

We explain how on our YouTube channel and give you the tools to make it work for you — with tips on budgeting, pitfalls to watch out for, and most importantly, some ideas on where to invest the money you're saving away!

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Dylan Lewis owns shares of Apple. Jason Moser owns shares of Apple, Etsy, Starbucks, and Zoetis. Robert Brokamp, CFP owns shares of Starbucks. The Motley Fool owns shares of and recommends Apple, Etsy, and Starbucks. The Motley Fool has the following options: short January 2020 $155 calls on Apple, long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, and long January 2020 $150 calls on Apple. The Motley Fool has a disclosure policy.

This article was originally published on Fool.com