"To make a case for long-term investing, the individual investor can invest based on a certain amount of faith in our country and ourselves," Banzhaf said. "You're betting on your optimism." That was the mind-set of billionaire investor Warren Buffett last week when he said he would make a $34 billion acquisition of Burlington Northern Santa Fe Corp., calling it "an all-in wager on the economic future of the United States."

"To act on that faith, Banzhaf suggests using low-cost exchange-traded funds. ETFs trade like stocks and are priced continuously throughout the day. Because international investments are becoming a more permanent part of U.S. investors' portfolios, Banzhaf said he would make sure that component was there," Gallagher Reports.

"He uses Vanguard because it has good corporate governance, a focus on low-cost investments, lots of experience indexing, and a practice of holding most stocks in an index so there's better potential for results to mirror the performance of that index. Banzhaf said he would hold both Vanguard Total Stock Market ETF (VTI) and Vanguard FTSE All-World ex-US ETF (VEU)," Gallagher Reports.

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Here's a look at the two Vanguard ETF's below:

The investment (VTI) seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. The fund employs a passive management strategy designed to track the performance of the MSCI US Broad Market index, which consists of all the U.S. common stocks traded regularly on the New York Stock Exchange and the Nasdaq over-the-counter market. It typically holds 1,200-1,300 of the stocks in its target index.

The investment (VEU) seeks to track the performance of the FTSE All-World ex-US Index. The fund seeks to replicate the performance of the index, a free-float-adjusted, market-capitalization-weighted index of approximately 2,200 stocks of companies located in 46 countries.