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I relatively new to all of this I won't advice. However, I'm in a similar situation - saving $500-600 a month (paying myself first if you will) Each month I plan on transferring this payment to my money market account at my broker (DLJ). Once the cash piles up, (>$1K) - I will either invest in a Cash King account or one of my own "whims".

Once the CK's are filled, I'll have to let this money sit a bit longer but it will them be rolled into my F4 stocks. (Timing should workout, about 12 months out still on a 18 month cycle).

I looked at the index idea, but being only 30, I wanted to be "aggressive" as reasonable - thus I was hoping for a higher than average return. Also, if I socked money away in an index and hoped to buy stock with it later...I still would be getting zapped by the taxman.

Just my newbie thoughts..
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