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.
If you have a long time horizon and are investing for retirement, you want a more aggressive growth option that you can buy and hold and not worry about. A great option is the First Trust Nasdaq 100 Equal Weighted ETF (NASDAQ: QQEW). It could just make you a millionaire when you retire.