The money could go entirely into riskless fixed-income instruments, such as U.S. Treasurys or well-diversified, balanced mutual funds.

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Avoid all mutual funds except for asset allocators (balanced funds or go-anywhere can be very useful for investors).

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Joe saves this same amount annually until age 70 and earns an average compound annual return over that time of 6% by investing in a balanced mix of low-cost stock and bond mutual funds.

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