The next challenge is turning that foundation into something much larger.<\/p>\n
I think there are three practical ways to help close the gap to $500,000.<\/p>\n
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Image source: Getty Images<\/p>\n
Make future income do more of the work<\/p>\n
The first way is to stop thinking only about the money already saved.<\/p>\n
A $100,000 starting balance is a strong foundation, but there is still work to be done, and your salary will be key.<\/p>\n
That could mean salary sacrifice into superannuation<\/a>, making extra personal contributions where appropriate, or increasing contributions each time your income rises.<\/p>\n I like this approach because it avoids relying entirely on market returns. The portfolio still needs to grow, but regular contributions give compounding more capital to work with.<\/p>\n Even modest extra contributions can build momentum over time.<\/p>\n For example, someone who adds money every month is doing more than increasing the balance. They are buying more assets, collecting more future dividends<\/a> or distributions, and giving themselves a larger base for long-term growth.<\/p>\n The mistake I would try to avoid is waiting until there is a large amount left over at the end of the year. Retirement savings often grow best when contributions become automatic and boring.<\/p>\n That may not sound exciting, but it can be key.<\/p>\n Own enough growth<\/p>\n The second way is to make sure the money is invested with enough long-term growth potential.<\/p>\n A portfolio that is too conservative may feel comfortable, but it can make the journey from $100,000 to $500,000 much harder.<\/p>\n For investors with enough time before retirement, I think growth assets<\/a> need to do a lot of the work.<\/p>\n That could include ASX shares, international shares, and diversified funds or ETFs inside a super fund or personal portfolio. This could include ResMed Inc. (ASX: RMD<\/a>), Microsoft Corp (NASDAQ: MSFT<\/a>), or the Vanguard MSCI Index International Shares ETF (ASX: VGS<\/a>).<\/p>\n The key is not just owning shares for the sake of it. I would want exposure to businesses that can grow earnings, reinvest, raise dividends, and benefit from long-term trends.<\/p>\n Broad ETFs can help here because they spread money across many companies and industries. Quality ASX shares can also play a role, especially businesses with strong market positions and the ability to compound over time.<\/p>\n The difference over long periods can be significant.<\/p>\n At 8% per year, $100,000 would grow to around $466,000 over 20 years before fees and tax, even without adding anything else.<\/p>\n That is close to the $500,000 target. Add regular contributions along the way, and the target becomes much more achievable.<\/p>\n Stop small leaks from becoming big problems<\/p>\n The third way is less exciting, but I think it is underrated.<\/p>\n Investors should watch the small leaks that quietly slow retirement savings down.<\/p>\n