So, how do I actually do it?

First:
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?

Second:
Based on your experience, do you think it's better to buy S&P or Welshire? I'm thinking S&P is better because Welshire is just...too average. I'm thinking S&P will give a better return since it's less diversified. I really might not know what I'm talking about though and this could sound like complete nonsense.

Third:
It would be extremely helpful if we can have a sticky FAQ for this forum so newbs like me don't have to keep asking stupid questions like that. [img]/images/graemlins/wink.gif[/img]

Thanks