1 Financial Services Stock That Could Turn $1,000 Per Month Into $1 Million

The stock has averaged annual gains of 42.6% over the past three years.Gobs of good stocks can turn $1,000 per month into $1 million or more. It just takes disciplined investing, a fair amount of time, and, of course, a good stock -- or stocks. Here's one such stock from the financial sector: SoFi Technologies (SOFI 1.50%). It has been averaging annual gains of 43% over the past three years, though it's down 25% year to date. That presents an attractive buying opportunity. Image source: Getty Images. The table below shows that you can reach $1 million with it or another stock even if it averages 8% growth. $1,000 Invested Per Month (in Years) 8% Annual Growth 10% Annual Growth 12% Annual Growth 5 years $70,399 $73,261 $76,234 10 years $173,839 $191,249 $210,585 15 years $325,825 $381,270 $447,357 20 years $549,144 $687,300 $864,629 25 years $877,271 $1,180,165 $1,600,006 30 years $1,359,399 $1,973,928 $2,895,992 35 years $2,067,802 $3,252,292 $5,179,962 40 years $3,108,678 $5,311,111 $9,205,097 Source: Calculations by author via Investor.gov. SoFi Technologies operates in the promising realm of fintech (financial technology). It's an online bank offering a wide range of personal finance services. It began mainly as a student loan servicer, but it now offers everything from auto loan refinancing to personal loans, mortgages, credit cards, investments, and, of course, banking. ExpandNASDAQ: SOFISoFi TechnologiesToday's Change(-1.50%) $-0.29Current Price$19.01Key Data PointsMarket Cap$24BDay's Range$18.52 - $19.1852wk Range$8.60 - $32.73Volume1.7MAvg Vol56MGross Margin61.06% SoFi began with younger consumers, and it has continued courting them -- for example, by pushing into cryptocurrency. It's succeeding, too, posting a revenue gain of 37% year over year for its fourth quarter and a fee-based revenue gain of 53%. Its membership, too, is growing briskly, rising 35% year over year to 13.7 million people. CEO Anthony Noto has noted, "Our one-stop shop is scaling exactly as intended and delivering a winning combination of growth and returns. We added a record 1 million new members this quarter and drove record product growth." Best of all, SoFi's stock seems reasonably valued or even a bit undervalued at recent levels.Read NextJun 27, 2025 •By Jennifer Saibil10 Best Ways You Could Invest $100 TodayApr 24, 2025 •By Selena Maranjian5 Monster Stocks -- Such as Ford -- to Hold for the Next 10 YearsApr 14, 2025 •By Selena MaranjianIf You'd Invested $10,000 in SoFi Technologies Stock 3 Years Ago, Here's How Much You'd Have TodayJul 7, 2024 •By Selena MaranjianDown 34% This Year, SoFi Is a Hot Stock Right Now.

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