Investing $500 per Month in This Dividend ETF Could Set You Up for Life, According to History

If you have the goal of saving $1 million or more for retirement, $500 a month may not sound like it'll do much. On its own, that's 2,000 of those monthly payments, which translates to more than 166 years in order to hit the million-dollar mark.

But that's why long-term compounding growth is so important. If you invest that $500 monthly into an investment earning a long-term market rate of return and continue doing that for years, if not decades, you'll quickly find that the $1 million goal is actually well within your reach!

In my opinion, the Vanguard Dividend Appreciation ETF (NYSEMKT: VIG) could be the fund to help you accomplish that.

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