How to 10x Your Retirement Savings While Barely Lifting a Finger
Are you looking to turn your hard-earned wages into a nice nest egg for later in life? If you're reading this, then you probably are. And if you're reading this, you also likely know the stock market is the best way to outgrow the impact of inflation. Savings accounts, CDs, and even corporate bonds just aren't up to the job.
The thing is, reaping nice gains from stocks doesn't require a lot of time, effort, or maintenance. You're arguably better served by being a truly passive investor and simply leaving things alone for years on end. Here's an easy recipe for multiplying your investments by a factor of 10 -- and it doesn't even require starting with a big chunk of cash.
There are several ways to skin a proverbial cat, but the easiest way is also arguably the best way. That's buying into a broad market index like the S&P 500 with an instrument like the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). This index fund offers you balanced exposure to 500 of the world's largest companies' stocks, effectively allowing you to participate in their long-term growth, which averages 10% per year. Some years are better, and others are worse. Over time, however, you can expect to average a gain of around 10% per year.
Source Fool.com
