Want $1 Million in Retirement? 11 Simple Index Funds to Buy and Hold for Decades.

Core Insights - Relying solely on Social Security for retirement is insufficient, as the average monthly benefit is only $2,013, equating to about $24,000 annually [1] - Investing in retirement accounts is essential, and index funds in ETF form are recommended for their ease of use and potential for income or growth [5] Investment Growth Potential - An 8% growth rate is used to illustrate how investments can grow over time, with significant increases in value for both $7,500 and $15,000 annual investments over various time frames [3][4] - For example, investing $15,000 annually can lead to approximately $1,699,248 after 30 years [4] Retirement Savings Goals - Aiming for a $1 million retirement fund is achievable but may require decades of consistent investment and potentially higher returns [6] - The 4% rule suggests that withdrawing 4% from a $1 million fund in the first year of retirement would yield $40,000, which may not suffice in the future due to inflation [7][8] Recommended Investment Options - A list of 11 ETFs is provided, with nine identified as promising for long-term holding (five years or more) [9]