I'd like to +1 this because it needs to be repeated until the whole world has heard it. Since 1950 or so, the S&P 500 has averaged 8% per year growth. Nearly all managed funds have done worse -- and that's before you pay their management fees.

Here is all the investment advice you will ever need: Open a Schwab account, and buy their S&P 500 index fund (SWPPX). There are no fees to open a Schwab account, no trading fees to buy the fund, and essentially no fees to hold it. Do not sell if you think it's going to go down. Just keep buying with whatever extra money you have month-to-month. That 8% per year (plus dividends) will add up fast.

Once you have some assets to your name, managed investment firms like JP Morgan will be courting you. Don't be fooled -- they won't do better than the market over the long run, and you'll pay a 1% per year management fee regardless of how well they do.

And if you're wondering "who is this guy and what is his authority to speak on this?", consider that Warren Buffet, world's greatest investor, agrees with me. Look it up.