Re: Idiot wants advice.
I wish people would stop recommending the S&P 500 index when there are many better-diversified indices available at the same low expense ratios.
I'd recommend buying VTI, a very low-expense fund that captures the return of the Wilshire 5000 Total Market Index. Is it going to be very highly correlated with the S&P 500? Yes, but if you're going to diversify, do it all the way.
As far as how you buy it, it trades just like any other stock (and not like mutual funds) - you can buy and sell at any point in any given trading day.
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