This doesn't mean you're guaranteed this interest rate, or anything near it, so take your final calculations with a grain of salt. While past results can't predict future performance, the average stock market return over the past 10 years is about 14.7%. Your rate of return, also known as your interest rate. Even if you don't feel you have much to spare, experts recommend setting up an automatic contribution of a small sum - say $20 or $50 - through your bank or brokerage's website or app, then revisiting that contribution in six months in case you can increase it. The more often you can contribute, the faster it will grow. While you can earn compound interest without ever contributing another dollar, additional contributions will speed up the money's growth. Any regular contributions, and whether you will make them monthly or annually.
