Warren Buffett wants 90 percent of his wealth to go to this one investment after he's gone via CNBCMakeIt
Despite his legendary stock-picking abilities, Warren Buffett remains a staunch supporter of index funds. He favors them over most other investing options. The Oracle of Omaha even said he's instructed the trustee in charge of his estate to invest 90 percent of his money into the S&P 500 for his wife after he dies, Buffett told CNBC's Becky Quick in an exclusive interview on"Squawk Box" on Monday. "There's been no better bet than America," he says.
Index funds are a form of passive investing. They hold every stock in an index such as the S&P 500, which includes big-name companies such as Apple, Microsoft and Google, and they offer low turnover rates, so fees and taxes tend to be low as well. var mps=mps||{}; mps._queue=mps._queue||{}; mps._queue.gptloaded=mps._queue.gptloaded||[]; mps._queue.gptloaded.
A major benefit of index funds is that they're low-cost. That's because they don't require much effort to manage: You just purchase the index and let it do its thing instead of following, buying and selling shares in particular companies. Index funds are also tax efficient because they don't require much trading. Managers are"not constantly buying and selling within that fund," Holeman says.
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