Warren Buffet's advise is great but I have never understood why he picks S&P 500 vs the Nasdaq? If you look at almost any time period the Nasdaq has outperformed the S&P by at least 1% (Annualized Growth Rate) which compounded year after year is a significant difference over your working lifetime (~%50 greater return after 40 years)! This is what I have been doing for the past 10 years and I am >2% (AGR) over the S&P.