Investing in This ETF Right Now Could Make You a Millionaire Retiree
The way the stock market has performed over the past few months, your retirement account is probably going down, not up. But keep in mind that the average length of a bear market is roughly nine months, while the average length of a bull market is about 2.7 years. Also, according to research from Hartford Funds, stocks lose 36% on average in a bear market and gain 114% on average during a bull market.
Over the long term, the bulls usually win out as the average annual return for the S&P 500 over time is roughly 10%. But even still, if you want to retire a millionaire, you can't rely on your retirement account or 401(k) alone. According to a recent study by Vanguard, the average American has just $225,000 in their 401(k) plan at age 65. So, to get to that $1 million by retirement, it is going to take some additional investments. A good option to supplement your 401(k) plan are exchange traded-funds (ETFs), which are diversified baskets of stocks.
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Source Fool.com
