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1 Low-Risk Way to Help Grow Your Portfolio to $1 Million
For many investors, growing their portfolio to at least $1 million is a key goal, especially if their plan is to have a strong nest egg by retirement. But there's always the temptation to try to generate better returns in a shorter time frame, and that can lead people to take on more risk. The problem, however, becomes that if you incur losses through that strategy, then you may be inclined to take on even more risk to achieve even better returns to offset them. The situation can quickly spiral out of control, and cripple your investment plans.But to get to $1 million, you don't have to take on significant risk. A slow-and-steady approach of remaining invested in a top exchange-traded fund (ETF) for decades can be a no-nonsense way to build up a massive portfolio. Specifically, investing in an ETF that mirrors the broad S&P 500 index can put you on a path to a $1 million portfolio.Image source: Getty Images.Continue reading
For many investors, growing their portfolio to at least $1 million is a key goal, especially if their plan is to have a strong nest egg by retirement. But there's always the temptation to try to generate better returns in a shorter time frame, and that can lead people to take on more risk. The problem, however, becomes that if you incur losses through that strategy, then you may be inclined to take on even more risk to achieve even better returns to offset them. The situation can quickly spiral out of control, and cripple your investment plans.
But to get to $1 million, you don't have to take on significant risk. A slow-and-steady approach of remaining invested in a top exchange-traded fund (ETF) for decades can be a no-nonsense way to build up a massive portfolio. Specifically, investing in an ETF that mirrors the broad S&P 500 index can put you on a path to a $1 million portfolio.
Image source: Getty Images.
