While some may consider index fund investing boring, there is no easier way to put yourself on a path to success than consistently adding to an index fund. In fact, I’d argue that many investors would be better suited to doing this than buying individual stocks they don’t have the stomach to hold when the market turns south.
Berkshire Hathaway (BRK.A -0.54%) (BRK.B -0.38%) CEO Warren Buffett shares this belief, which is why I think all investors should own my favorite index fund: The Invesco QQQ (QQQ -0.10%), an exchange-traded fund that tracks the Nasdaq-100. But could investing in this fund really make you a millionaire?
The Invesco QQQ is heavily concentrated in 10 stocks
The financial media often refers to this index as the “tech-heavy Nasdaq-100,” and for good reason. It has a high concentration of tech companies because so many of them chose to list on the Nasdaq exchange…