Warren Buffett Calls This Investment "The Best Thing" for Most People. History Says It Could Make You a Millionaire.
With the right strategy, this low-cost investment could build life-changing wealth.
Overview
Warren Buffett is one of the most famous investors in history, so when he offers advice, it often pays to listen. And there's one investment that he has recommended for decades.
"In my view, for most people, the best thing to do is to own the S&P 500 index fund," he said during Berkshire Hathaway's 2020 annual meeting.
Details
This isn't the first time Buffett has recommended this investment. In 2008, for example, he bet $1 million that the S&P 500 (SNPINDEX: ^GSPC) could outperform a group of five actively managed hedge funds. His investment earned total returns of nearly 126% over 10 years, compared with an average of 36% for the five hedge funds.
Source
Originally published at www.fool.com.