How much growth are we talking about? Over the past 30 years, the S&P 500 has delivered an average annual return of over 12%. Now, let’s say you get a refund for $2,893. And let’s also be a little more conservative and say that over the next number of decades, the S&P 500 delivers an average annual 10% return. If you invest your $2,893 in S&P 500 index funds and let your money sit for 37 years, you’ll wind up with just over $100,000 — without having to do any extra work. S&P 500 index funds, like all investments, come with risk. But over time, the S&P 500 has managed to deliver solid returns, so if you stick with S&P 500 index funds, there’s a good chance you’ll manage to grow your wealth substantially.
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