Is the S&P 500 All You Need to Retire a Millionaire?
The average U.S. worker expects to need approximately $1.7 million to retire, according to a 2022 survey conducted by financial services giant Charles Schwab. But among the survey participants, only around half believe it's very likely that they'll meet their retirement savings goals.
Saving for retirement isn't easy, but it is possible to build a nest egg worth $1 million or more -- even if you're not an experienced investor. With S&P 500 index funds, it's simpler than you might think to turn a few hundred dollars per month into a million-dollar portfolio.
S&P 500 index funds such as the Vanguard S&P 500 ETF (NYSEMKT: VOO) include just the same stocks as the index -- 500 of the largest public companies in the U.S. -- which creates an instantly diversified portfolio. And as a result, their results mirror the index's performance.
Source Fool.com
