ONEQ - Forget the Magnificent Seven Stocks: 1 Magnificent Index Fund Could Turn $375 Per Month Into $953800
2024-03-15 05:47:00 ET
The Nasdaq Composite recently reached a record high for the first time since falling into a bear market in late 2021. That means the technology-heavy index is officially back in bull market territory, a milestone usually followed by significant gains across the stock market.
The "Magnificent Seven," especially Nvidia , Meta Platforms , and Amazon , played a major role in pushing the Nasdaq to a new record high, and all seven could perform well during the new bull market. However, rather than buying each stock individually, investors should consider buying an index fund that tracks the entire Nasdaq, such as the Fidelity Nasdaq Composite ETF (NASDAQ: ONEQ) .
Doing so reduces risk by spreading money across more stocks and has historically been a sound investment strategy. This ETF would have turned $375 invested monthly into $953,800 over the last three decades.
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Forget the "Magnificent Seven" Stocks: 1 Magnificent Index Fund Could Turn $375 Per Month Into $953,800