If there is one thing that you shouldn’t expect from investing in the share market, it is to strike it rich quickly. This mentality is bound to lead to disappointment.

Rather, investing is the most awesome and sustainable ‘get rich slowly’ strategy.

If you’re wondering where to start, here’s a long-term strategy for wealth accumulation which could help you grow seriously rich…

  1. Suppose you can save $10,000 – if you have already – well done, you’re well on your way!
  2. Let’s assume through a diligent savings regime you are able to save $500 every month; this equates to $6,000 in additional shares that you can acquire for your portfolio each year.
  3. Let’s also assume you can achieve a compound return on your investments of 10% per annum. That may sound like a lot – and compared with interest earned on a bank deposit it is – but for many investors it remains a long-term achievable rate of return.
  4. The magic of compound interest needs to benefit your portfolio. This “magic” has the greatest effect the longer we allow the compounding to continue for – so let’s give ourselves 30 years.

This strategy, as outlined above, means in total we save $190,000 to invest into our share portfolio. Through the beauty of compounding via the reinvestment of dividends and any realised capital gains, we expand our wealth by a further $971,458!

Ultimately, after 30 years, utilising the above strategy you could attain a portfolio valued at $1,161,458!

Of course, picking stocks that will give you a long-term double-digit return is no cinch.

Just because it’s hard however doesn’t mean it’s impossible.

For example, consider the ten-year total shareholder returns (TSR) achieved from the following three companies…

  • Global medical device manufacturer ResMed Inc. (CHESS) (ASX: RMD) has produced a TSR of 9.9% per annum (pa)
  • Global hearing device manufacturer Cochlear Limited (ASX: COH) has achieved a TSR of 9.7% pa
  • Australia’s leading telecommunications company Telstra Corporation Ltd (ASX: TLS) has provided shareholders with a TSR of 11% pa

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Motley Fool contributor Tim McArthur has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.