Re: So, how do I actually do it?
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I want to buy an index fund (S&P 500 or the Welshire 5000). How do I go about doing that? Do I open a broker account with something like scottrade/etrade? Will sharebuilder do ($4/trade)? I've read some in their sites, but I need a "Yes, you can buy S&P from sharebuilder and it's not a bad idea" before I do it. BTW, what exactly is vanguard?
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You open an online brokerage account. I wouldn't use sharebuilder for this purpose.
Vanguard is a mutual fund comapny. They market and manage mutual funds.
Stick with the SP500, until you feel comfortable that you understand what you are doing and ready to diversify.
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