[Carl_William]

Assuming you are a young person, I might suggest you invest in the VanGuard Group Target Requirement2045 with symbol: VTIVX. The has some asset allocation properties; it invests in four other Vanguard index funds; about 66.7% in the Vanguard Total US stock market, 11.97% bonds; 11.95% Vanguard European Stock Index; and about 5.6% in the Vanguard Pacific Stock Index. It's passive (maybe boring to people who want a quick buck), and probably will do as good or better than most index funds over the years. As most Vanguard funds; it has a low expense ratio, and as all Vanguard Funds it is load fee free. I have my wife in it in her IRA (and she is 60 years old -- she can do this because were are about 65% liquid overall).

This fund also automatatically rebalances as you grow older. This is not too important at this stage in you life, but might be 40 years down the line. Like I said, this fund as a somewhat asset allocation approach -- probably good enough but not superlative.

I recommend that you get a ROTH as soon as possible if possible.

Also some of the very knowledgable guys (I presume guys) on this 2+2 format have recommended the FAIRHOLME FD (FAIRX) fund. This funds recent past record(5 yrs or so) is excellent. You can contact the fund on the Internet and they will send you the necessary dope required to buy it. If you buy it through an American brokerage house you will probably be required to pay a small transaction fee (maybe $40 or so). If you buy it through the European firm -- there is no transaction fee. I feel this fund has excellent management and the fees are very fair. Also....

THe Vanguard Strategic Equity Fund FD (VSEQX) is a good fund and I have done well in the past with this fund in my Vanguard cash account. Its record is somewhat similar to the FAIRHOLME FD (FAIRX) fund; it has slacked off a little this year -- about 12% less than FAIRX.

Some guys have recently on this site have recommended William J. Bernstein's book "The Four Pillars of Investing." I have this book and i recommend it to you -- especially since you are a young person. It things go well, the stuff in this book could really pay for you over the years. THe book mentions that time is very important, and it's important to get some money down early in your life to take advantage of your abundance of time. Some of the things (very important things) that the book covers is asset allocation, risk, rebalancing your portfolio, and which type of funds you should buy, and which type of funds should be in taxable accounts and which should be in sheltered accounts. good luck