The S&P 500 has been a solid investment, historically speaking, even with the black swan events. It has more than tripled since 2009, and doubled since 2007 (before the 2008 drop). And with dividends it's even better.

This idea that black swan events keep knocking out all the gains just isn't true, looking at the numbers. But if you don't like stocks, buying real estate and renting it out is also a good option.

For people who never want to look at their balances and don't have a coherent strategy? No, it's terrible, use ETFs and target funds.