Can You Invest $20, $30, $40, $50 Per Week And Become Wealthy?

I'm wondering how much people think I should be investing per week in order to become wealthy.  I know that it matters what I invest my money in and how early in life I start to invest, but I'm wondering if $50 or less per week is enough.

 

If people think about this stuff on a monthly investment schedule, $50 per week would be $200 per month.  From the first thought, I don't think this is enough.  I know it is good to be investing on a weekely schedule (due to the dollar cost averaging theory), but I think I will need to find some way to increase the amount of my investments.

 

If I only invest $20 per week, then that would put me at $80 per month.  That would put me at only $960 per year in retirement savings.  Even if I started really early in life and took advantage of compound interest, saving $20 per week will not be enough. 

 

Saving $50 per week would give me a total of $2600 dollars per year being saved and invested.  This is better, but I still don't think it will be enough.  It won't even be enough to retire let alone to become wealthy.

 

Are you saving and investing enough money for retirement each month?  How much are you saving?  Have you calculated how much this will give you when you reach retirement age? 

Tags: Invest $20, $30, $40, $50 Per Week, become wealthy, saving $50 per week

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Have you ever played around with a compound interest calculator?  Just do a search to find one online and then start plugging in numbers.  It will give you a pretty good idea of what you can expect to have at certain ages and it also will give you a good idea of how much compound interest can exponentially increase your portfolio's value in your later years.

 

$50 per month is a good start because it means you are in an automated savings plan.  However, if you want "wealth" as you say, then you will need to increase your monthly contribution quite a bit.

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