[pnathan]

The cheapest way with the least gotchas is index funds tracking broad market performance via ETFs. Dump money in regularly and forget about it

In any event, carefully monitor your expenses vs. ROI. Know how much transaction fees are, how much the fund takes, etc. In my reading, I found mutual funds to have many costs; this is why I went ETF.

(disclosure: I own only ETFs at this point)