Anyone who has managed to save up $5,000 knows what an effort this can be. That’s an admirable sum, as well, that could be the bulk of an emergency fund or a seed for a bigger investment.

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I wondered what would be the best strategy to turn $5,000 into $50,000 for the average person, so I turned to ChatGPT’s investigative and calculating powers to help me figure that out. Here’s the strategy it gave me.

Set Appropriate Expectations

ChatGPT did not try to give me some quick and easy solution to this problem. Instead, it told me to buckle up for the long haul, because “a tenfold return doesn’t usually come from one big win.” It drew on the consistent advice of financial advisors and said that building that much growth requires time, consistency and a clear sense of your risk tolerance.

The secret, of course, is letting your money compound, which means you can’t just park it in a high-yield savings account and hope for the best.

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The Most Realistic Strategy: Invest Consistently

The AI laid out what it might look like if you invest $5,000 in a broad stock market index fund and earn an average annual return of about 8% to 10%. That money alone won’t hit $50,000 quickly. At 8%, it takes roughly 30 years. At 10% closer to 24 years.

What matters is consistent contributions. Adding just $200 per month to that sum, you can realistically reach $50,000 in 10 to 15 years. That’s not flashy, but it’s how most real wealth is built, it pointed out.

Where You Invest Matters

ChatGPT also flagged that where you invest can matter just as much as what you invest in. Using a tax-advantaged account like a Roth IRA can accelerate growth by shielding gains from taxes over time. It’s also smart to keep fees low, as high expense ratios can eat into returns, especially over decades. Broad index funds tend to keep costs minimal. Over long time horizons, those small differences add up.

For a Shorter Timeline, You Need Leverage

To earn more money quicker, you need “leverage,” ChatGPT said. However, there are only three forms of leverage available to everyday investors:

• Higher contributions: If you put more money in, you get more money out.

• Higher risk: Some kinds of stocks or other investments are higher risk but can promise higher returns. However, you can also lose big.

• Skill-based leverage: If you have ways to make additional income through freelancing or monetizing expertise, you may be able to add more money to your nest egg.