Can Investing $30,000 in the S&P 500 Today Put You on Track to Retire With $1 Million?
If you want to invest in the stock market but aren't sure which companies to put into your portfolio, tracking the S&P 500 index can be a safe option to consider. The index is made up of the top stocks on U.S. exchanges, and it's a big deal when companies are added to it, because it signifies that they have built a strong business. At the same time, stocks that aren't doing well are dropped from the index, ensuring that it only contains the best of the best.
By tracking the index, you can benefit from the overall market's long-term growth. And doing so can ensure that you are minimizing your risk while still holding quality stocks. It's a no-brainer way to invest in the market, and it can be suitable for all types of investors.
The market will have bad years, but over the long term, by mirroring the S&P 500 index, you can achieve some significant returns. Below, I'll show you how a $30,000 investment might grow over the long term, and whether it can potentially be enough to set you up for at least $1 million by retirement, assuming you have at least 30 investing years left.
Source Fool.com
