Fidelity 500 Index Fund (FXIAX)

I had a discussion recently about the profiles of the folks who go on to become secret dividend millionaires. Regular readers know this all from memory by now, but typically these people remain unmarried, childless, display ultra-frugality and extreme longevity. In short, the kind of lifestyle that not many people actually have in the real world.

Although I don’t often cover domestic equity index funds, I’ll make an exception for the Vanguard High Dividend Yield ETF (VYM). VYM has become very popular with income hunters over the past decade due to the persistently low interest rate environment. I also prefer it over broader-based index funds such as the Fidelity 500 Index Fund (FXIAX) and the Vanguard 500 Index Fund (VFIAX) because of…