"How do we get to high ground? I suggest -- unless you're already on track to have 15 times what you need to live on at retirement socked away by age 65 -- taking 20 percent of your paycheck if you possibly can, putting it in the Fidelity Fund (FFIDX) or the Vanguard Total Stock Market Index Fund (VTSMX) until you're 55, then putting half of it into the Fidelity Total Bond Fund (FTBFX) or Vanguard Total Bond Market Index Fund (VBMFX).
Maybe if you have a few bucks extra, buy the iShares MSCI Emerging Markets Index ETF (EEM) or the iShares Russell 2000 Value Index ETF (IWN) for developing market or small-cap exposure. But for heaven's sake, do it now.
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Ahh. A plug for his mutual funds.
I don't think he really cares WHICH funds you buy, but the point is, invest in some, or you'll be sorry.
These are broad-based index funds for the most part. He's not trying to drive up the NAV of some small fund that he owns most of the shares.
Fidelity and Vanguard are mainstream major funds, and competitors of each other. No way does Stein represent either or both of them. He is just suggesting getting into a mainstream mutual fund.