Can You Actually Retire a Millionaire With ETFs Alone?
Exchange-traded funds, or ETFs, provide investors with the diversification of a mutual fund and the convenience and accessibility of a stock. Currently, there are more than 3,000 ETFs available in the U.S., and in 2022 alone, almost 400 have launched -- which is just off the record pace set in 2021 when 438 launched, according to Morningstar.
With so many options, including a growing number of actively-managed funds, there are ETFs available for every style, sector, or investment objective. In that sense, they are also like stocks. And just as you can retire a millionaire with a portfolio of stocks, you can achieve the same goal with ETFs alone. But just as it does with stocks, it takes a long-term strategy and commitment. Here are three keys to success.
The most important ally you have on the road to retiring a millionaire is time. The longer you have to let your investment grow through the power of compounding, where your returns create their own returns, the more you will be able to accumulate. Even just a few years can make an incredible difference in the long run.
Source Fool.com
