KXLY
December 27, 2020 4:45 AM newsfeedback@fool.com (Dave Kovaleski)
Posted:
Updated:
December 29, 2020 6:13 AM
It may sound farfetched that a single investment could generate enough money to make you a millionaire in retirement, but it is possible with the right investment and a long-term approach to investing. The earlier you begin investing for retirement, the more time your investment has to work for you.
A great option to start building long-term wealth is an exchange-traded fund, or ETF, which allows you to invest in an entire index, providing diversification, transparency, and performance in a single low-cost investment. There are ETFs that invest in all of the major indexes, the various sectors, as well as segments or slices of the indexes.