Go to Vanguard.com and open a Roth brokerage account and connect your checking account to it. Transfer $5k for 2010 and $5k for 2011 into a money market account (VMMXX)in the Roth acct. If you want to dollar cost average the money into equity funds do that, otherwise exchange the entire amount into the funds.
Aviator Tiger believes total domestic stock market index is all you need. Everyone else on this board disagrees. If it were me at minimum I would add Total international equity index which also includes emerging and international small cap, in addition to developed international. I also would buy with the minimum investment and wait for bad days or down weeks to exchange funds from the money market to the equity funds and keep at least 30% cash as dry powder for significant future opportunities. Good luck.
This post was edited on 2/24 at 11:12 am