The Best Way to 10X Your Retirement Savings in 20 Years
When you really boil it down, the most important thing to know about investing is how valuable time is. There really is no other factor that is more important to growing your wealth than starting early and investing for the long term. That is due to the power of compounding.
That said, the idea of increasing your retirement nest egg by a factor of 10 is not that complicated. You need a good exchange-traded fund (ETF) and time -- 20 years makes for a nice, long runway to let your investment do its work. If you have those two things, you should be able to grow your retirement savings by a factor of 10 in 20 years. Here's how.
While you could certainly grow your retirement portfolio through the investments in your 401(k) or a portfolio of individual stocks, ETFs are about as uncomplicated as it gets.
Source Fool.com
