Investing legend Warren Buffett wants you to keep it simple and trust index funds when it comes to investing your money. 

"I don't think most people are in a position to pick single stocks," he said during the Berkshire Hathaway annual shareholders meeting, which was held virtually this year from Omaha, Nebraska. "A few [are], maybe, but on balance, I think people are much better off buying a cross-section of America and just forgetting about it."