The secret sauce is simple: low cost ETFs that track the S&P 500 index. Regular, automatic investments. Go to sleep. Wake up 30/40/50 years later. You will be rich. Warren Buffet supports this idea for retail investors.
> Warren Buffet supports this idea for retail investors.
Everything that Buffet says falls into one of two categories: [1] He has no relevant knowledge. [2] He/Berkshire makes money from it.
[2] Is the most common. (His railways transport oil. His insurance companies make money from the inheritance tax, a tax that his estate won't pay. Etc.)
> His insurance companies make money from the inheritance tax
I don't follow this. Can you explain more? Buffet has been quite clear that he expects low cost index-tracking ETFs to outperform even hedge funds with 2&20 fee structure.
