That's why Buffett's top recommendation for average investors is to put money in an index fund. He prefers the Vanguard S&P 500 ETF(NYSEMKT: VOO). Buffett plans to take his own advice, too.

Warren Buffett has dropped enough hints to ascertain that his favorite exchange-traded fund (ETF) is the Vanguard S&P 500 ETF (NYSEMKT: VOO). This ETF has been a huge winner historically, but ...

Detailed price information for S&P 500 ETF Vanguard (VOO-A) from The Globe and Mail including charting and trades.

Vanguard Total Stock Market ETF: This ETF includes nearly all of the U.S. stock market, spreading your money across more than 3,500 stocks, not just 500. It includes lots of small companies, too.

In my view, Warren Buffett had simplicity in mind for his wife’s portfolio. Learn more about his 2-Fund Portfolio here.