Investing in the S&P 500 index can be a simple way for most long-term investors to build wealth. The average return for the S&P is about 10% per year, which includes up years and down years. If you’ve got enough time, that can make you a millionaire.
But if you want to achieve millionaire status faster, one possible strategy is to use a leveraged exchange-traded fund (ETF) like the ProShares Ultra S&P 500 (SSO 0.19%). This leveraged ETF gives you a chance to earn double the daily performance of the S&P 500.
However, leverage is not a free lunch. These types of ETFs go up faster when prices of constituent stocks rise, but they also decline faster when share prices go down.
There are no guarantees in investing, but let’s look at how investing in the ProShares Ultra S&P500 ETF could make you a millionaire (while understanding its risks).
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