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For many people, retirement planning is a distant thought. That is, until the reality of time running out sets in.
This scenario is way too common: some individuals wake up late to the importance of investing, panic at the lack of time and struggle to secure their financial future.
With only 15 years to retirement and $200,000 in savings, one investor is also feeling the pressure to grow his money quickly, seeking the fastest way to boost growth over the next 15 years.
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His concerns are clear: “What would be the best portfolio to invest in to maximize growth?”
The poster also showed worry about the risks involved and asked if it was possible to carry on with this feat without paying a manager to do it.
Redditors in the r/Stocks community offered the investor plenty of advice, so let’s dive into that.
Get Into Broad-Market ETFs for Growth and Stability
The most common advice received in the thread’s comments was to invest in broad-market ETFs since these funds offer diversification and good returns, making them a favorite for long-term growth.
“If you are asking for stocks to invest in on Reddit, I would just park that money in [Vanguard S&P 500 ETF (NYSE: VOO)] for your own sake,” the first comment reads.
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One Redditor mentioned a few ETFs he believes would be a good choice considering the poster’s situation.
“Depends on how much you need in retirement and your risk tolerance. With retirement money, I would recommend you play it safe and stick to ETFs rather than picking individual stocks. Some common relatively safe ETFs are VOO, [Vanguard Total Stock Market ETF (NYSE: VTI)], [Vanguard Total World Stock ETF (NYSE: VT)], [Invesco NASDAQ 100 ETF (NASDAQ: QQQM)], and [Schwab U.S. Dividend Equity ETF (NYSE: SCHD)] (this is mainly if you are looking for dividend yield),” he said.
