First, consider getting an online savings account from ING Direct(3%), or putting your money into PayPal(2.5%)...Better than less than 1%.
Second, jon_dahl's advice is spot on. The 2 tricks are to diversify and to dollar cost average(invest your money each month instead of dumping it into the market all at once)....Index funds are the way to go. Vanguard's are great...You might also want to read "Fooled by Randomness" which will make you feel confident that this is the right investment approach, and anything else is pretty much gambling.
Now for real advice:
First, consider getting an online savings account from ING Direct(3%), or putting your money into PayPal(2.5%)...Better than less than 1%.
Second, jon_dahl's advice is spot on. The 2 tricks are to diversify and to dollar cost average(invest your money each month instead of dumping it into the market all at once)....Index funds are the way to go. Vanguard's are great...You might also want to read "Fooled by Randomness" which will make you feel confident that this is the right investment approach, and anything else is pretty much gambling.