Consistently Investing in a Single ETF: Your Path to Million-Dollar Status?

Investing can be a complex, jargon-filled world filled with endless options. Olivier Le Moal/ShutterStock

We all dream of having substantial wealth. For many people, though, the stock market is a golden ticket. In spite of that, investing can be a complex, jargon-filled world filled with endless options.

However, what if we told you that a relatively simple approach could make you a millionaire? Well, it’s possible. Find out how by reading on.

Understanding ETFs

Let’s briefly discuss ETFs before diving into the strategy. An exchange-traded fund (ETF) tracks an underlying index, such as the S&P 500. ETFs are essentially baskets of securities that diversify your risk across multiple companies instead of buying individual stocks, where your investment is concentrated in one company.