Hey JJJ (easier to write and short
I started saving last year in Oct. Basically wanted to find out about managed funds, first thing I did was talk to a financial advisor, managed to find one close to my home via the BT website. (Also look up Count Financial www.count.com.au/)
At the time I wasnt aware of index funds, but I knew I wanted to invest in longterm stocks as a way of building wealth. So I was shown options as to what my goals were etc, and a portfolio was designed. Since then Ive regularly been putting money away into the managed fund.
If you do see a financial advisor(s) make sure you also ask about index funds.
Im going to make an effort to play around with value investing over 2007 to see if im any good at it, and then do it for real in 2008.