Investing in the stock market is one of the most effective ways to generate long-term wealth, and exchange-traded funds (ETFs) are a fantastic way to maximize your earnings with minimal effort.

An ETF is a basket of securities grouped into a single investment. By investing in just one ETF, you'll instantly own a stake in dozens or even hundreds of different stocks -- making it nearly effortless to build a well-diversified portfolio.

This approach requires much less research and can be more cost-effective than investing in individual stocks. The stocks in each fund are already chosen for you, and all of the ETFs on this list are priced at less than $500 per share, as of this writing. While there are countless ETFs to choose from, these three Vanguard ETFs can be a fantastic place to start.

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Source Fool.com