No. of Recommendations: 12
Take joelxwil's advice with a grain of salt. He's not entirely wrong, but he doesn't seem to realize that some people don't want to sit and look at their portfolio of stocks multiple times per day.

I see nothing wrong with choosing to use low cost index funds in more of a set-it-and-forget-it fashion. Just don't forget it completely. You do need to monitor long-term investments periodically - say every quarter or so.

I think it's far more important to do two things:
1. SAVE.
2. Don't be stupid.

The more you save, the more likely you'll be able to retire comfortably.

And there is no such think as a get rich quick scheme that actually works. (Unless you are the promoter of the get rich scheme! But that occasionally comes with jail sentences and big legal bills, so I don't recommend that either.)

--Peter
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