WKBT
May 8, 2021 9:00 AM newsfeedback@fool.com (Katie Brockman)
Posted:
Updated:
May 8, 2021 11:51 AM
Retiring is becoming more and more expensive, and it’s possible you’ll need well over $1 million to enjoy your senior years comfortably. If you plan to spend your retirement traveling the world or enjoying other expensive hobbies, you could need even more money in savings.
This goal can be difficult to achieve, though especially if you’re not already wealthy. Fortunately, it is possible to retire a multimillionaire by investing in the stock market. By taking these five steps, you’ll be well on your way to retiring rich.
WKBT
May 1, 2021 7:00 AM newsfeedback@fool.com (Christy Bieber, Maurie Backman, and Katie Brockman)
Posted:
Updated:
May 1, 2021 10:43 AM
Retirement should be one of the best times of life. Unfortunately, many seniors are left facing regrets that affect their ability to enjoy their later years.
Of course, it’s not always possible to do everything perfectly to set yourself up for a secure retirement since real life sometimes gets in the way of saving as much as you want or retiring when you planned. The good news, however, that you can avoid or rectify some mistakes if you know what they are.
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Since its inception, this fund has earned an average rate of return of around 9% per year. Say you were investing $200 per month in this ETF and earning a 9% annual return. Here s approximately how much you d have saved over time:
After 10 years: $36,000
After 20 years: $123,000
After 30 years: $327,000
Vanguard Growth ETF
The Vanguard Growth ETF
(NYSEMKT: VUG) tracks the CRSP U.S. Large-Cap Growth Index, and it contains 276 large-cap stocks with potential for rapid growth. A few of its largest holdings include Apple, Microsoft, Amazon, and Google s parent company Alphabet.
This fund was established in 2004, so it has a relatively long history. It also has a low expense ratio of just 0.04%, which means that you ll pay $4 in annual fees for every $10,000 you invest.
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