At first glance, investing can seem like a daunting and overly complex task. But it doesn't have to be. In fact, investors who focus on the basics and adopt a long-term time horizon can do incredibly well.

Even better, a seemingly small sum of money, say $1,000, can be put to work in an effective way. A top choice is the Vanguard 500 Index Fund (NASDAQMUTFUND: VFIAX). Here's why it should be on your investing radar right now.

The Vanguard 500 Index Fund tracks the performance of the 500 largest and most profitable companies in the United States. This index contains some of the most dominant technology and internet companies, including and Apple. However, the fund also owns shares in smaller under-the-radar businesses, including BorgWarner and Robert Half. Investors gain access to a group of enterprises that essentially turns into a long-term bet on the growth of the U.S. economy.

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Source Fool.com