Assalamu Alaikum girlie! 🌺

Ever dreamt of building a million-dollar fortune with minimal effort?

Well, that’s not completely out of touch… I promise it’s not a scam

Here’s how you can do it with the right strategy (Inshaa Allah).💰

A Practical Example

Let's start with a practical example:

📉 say you invest $500 per month in an index that return ~10.26% per year (this is the average rate).

In 2029, it’ll be worth ~ $38,985

In 2034, it’ll be worth ~ $103,961 

In 2039, it’ll be worth ~ $212,254 

In 2049, it’ll be worth ~ $693,548

In 2053, it’ll be worth ~ $1,073,167

What if you don’t have $500/ month?

Here is an example with $100/month

📉 here is an example with $100 per month in the same index that returns ~10.26% per year (this is the average rate).

In 2029, it’ll be worth ~ $7,797

In 2034, it’ll be worth ~ $20,792 

In 2039, it’ll be worth ~ $42,450 

In 2049, it’ll be worth ~ $138,709

In 2053, it’ll be worth ~ $214,633 

Now, I know it’s not the most exciting thing to wait 29 years just to enjoy $214,633, but starting with a small amount is better than nothing.

How to Get Started:

1. Understand what an index fund is: An index fund is a type of mutual fund or exchange-traded fund (ETF) that aims to replicate the performance of a specific market index. This means when you invest in an index fund, you're essentially investing in a diversified portfolio of stocks.

2. Research about the index funds: Look for funds with low fees, good performance history, and alignment with your goals. Make sure it is shari’ah-compliant.

3. Determine your investment goals: Clarify your investment objectives, whether it's saving for retirement, buying a house, or building wealth over the long term.

4. Choose a brokerage account: Create a brokerage account on platforms like e.g. Wahed, Acorns, Webull, etc. to start investing. Consider factors such as account fees, investment options, and customer service.

   

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5. Transfer Money Into your brokerage account: connect your bank account to the brokerage account. Set up automatic transfers on a regular basis to invest consistently.

6. Place your order: Once your brokerage account is funded, log in to your account and search for the index fund you want to invest in. Review the order details and submit your buy order.

7. Monitor your investment: keep track of your investment performance quarterly or annually. don’t log in daily/ monthly- you might be tempted to make an impulsive decision.

8. Reinvest dividends: Many index funds distribute dividends from the underlying stocks they hold. Consider setting up a dividend reinvestment plan (DRIP) to automatically reinvest dividends.

9. Don’t Consume Too Much Media About the Market: Markets are very volatile and fluctuate a lot on a daily basis. Investing is a long term game so don’t freak out if it drops down on a given day (chances are, it’ll go back up)

and that my friend, is how you become a millionaire with little effort…

Until next time,

Fatimah✨

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