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I opened the account at Waterhouse to give myself the flexibility to pick my own portfolio at some point in the future when I feel confident enough to do so. That was the subject of a couple of my posts a couple of months ago - which broker to pick. I got some feedback on that issue and have made my choice, so I'm past that issue now.

As for covering the bases, see some of the posts above. The S&P 500 fund and an international fund wouldn't actually cover ALL the asset classes. I still am interested in trying an aggressive growth fund, possibly a small cap fund, and/or a midcap fund, as well as an international fund. I was looking at Money Magazine's recommendations for various types of portfolios, for an aggressive portfolio they recommend 65 percent large-cap stocks, 15 percent small-caps, and 20 percent foreign. The S&P 500 would cover my large-cap stocks, but like I said I'd want to put some of my money into a good aggressive growth fund as well.
You would have been closer to right if you had advised me to pick the TOTAL index fund. But, I was reading somewhere that with small-cap stocks, you're actually better off with a managed fund where someone is using some judgment as to which stocks to buy, as opposed to an index fund. (Which also eliminates small-cap index funds, I guess).

I still haven't decided what to do yet while I'm researching funds, the advice I've received runs the gamut. I think I'm gonna have to break down and call my brother the financial adviser and see what he thinks! Thanks for the input though everyone!
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