Some More Math

As described before, scraping up $1M in 11 years could be particularly challenging. I found that if I started with $500 and donated an additional $100 every month, I would need to invest in something that will yield a 55.1% annual return.

On the other hand if I make the assumption that I will earn more over time - that I will be able to donate more than $100 every month in the future - perhaps I can make it to $1M after all.

If, for example, I assume that I start with $500 and I can readily invest the money so as to yield 8% annually, how much would I need to add every month. Particularly, assume that this month I can only add $100. I have decided to increase the amount that I donate every month by a set amount (i.e. the monthly donation grows linearly). In order to acquire $1M, the amount of my monthly donation must grow by about $82.95. At the end of 11 years, that monthly donation will be around $10,967.05.

So... how do you attract sponsors?