No. of Recommendations: 1
At just 8% that $230 would be worth about $2,300 in 30 years. Add another $2,300 next year and the year after that and the year after that and so on and the amount really adds up.

A better use of the $230 might be to take a class at the local community collage on financial planning(not stock picking) so that she would feel confident enough next year to pick her own funds. Over the next year she could "park" her money in something like the Vanguard Stock Market index fund then move it next year is she wants to.

For what it is worth I have decided that other than by shear luck, it is unlikely that I will pick one of the rare funds that will do better than an index fund over the long term so I am mainly sticking with index funds because of the low costs which is one of the few things that I can completely control.

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