How to Invest $500

Invest $500 a year for the next 10 years in the S&P 500 (an index of 500 diversified companies), and you'll end up with $7,195 — assuming the S&P earns its historical annual average of 11.91 percent — says Jennifer Ellison, CFA, a portfolio manager at Bingham Osborn & Scarborough LLC. (An index may do better than individual stocks because highs and lows even out.) The long-term profit potential is even more compelling. A 35-year-old woman investing $500 a year until she hits age 65 could amass $103,958 by the time she retires. (Just think of all the shoes you could buy with that nest egg!)

Advertisement - Continue Reading Below

Get More HOW TO Tips Here:

How To Drink Whiskey

How To Control The Board Room

How To Do Anything Better

How To Play With The Boys - and Win!

How To Fly First Class

Career
Share
Here's What You Should Do When Your Boss Emails You on Vacation
Career
Share
The Women of theSkimm Have an Epic Plan for Overhauling Your Calendar
Career
Share
The Big Exit: How 3 Women Made Serious Bank by Selling Their Startups for Millions
GIF
Career
Share
5 Ways to Deal When Work F--king Sucks
Career
Share
Marianna Hewitt's Journey from High School Outsider to Beauty Boss
Created for Clarins
Career
Share
How an Economist and a Lawyer Ditched It All to Become Successful Style Bloggers
Career
Share
3 Secret Power Moves Only Boss Ladies Know About
Career
Share
Is Getting Your Résumé Professionally Designed Worth It? 4 Career Experts Weigh In
Career
Share
#OfficeGoals: The Work Spaces of 25 Girl Bosses You Want to Be
Career
Share
5 Things I Learned From Hosting a Think-Tank Conference in Dubai