<prompt> Human: Im currently in my Junior year at college. I have 5,500 that I could take out of my checking account and open a Roth IRA with. Im thinking I should do this before the year end so I can contribute more next year. I hear I shouldnt try to time the market but Im wondering if I should wait for a downturn in the market to invest the money. When I do invest the money, Im planning on putting it in Vanguard Index Funds SP 500, Total Stock Market?. Is this a good strategy? Im not sure if I should do 100 index funds, or put some money towards bonds or what. Any advice would be greatly appreciated  <response>: Early and often and dont lump sum initially, keep some for emergencies. If youre not sure, get a life cycle fund with your target retirement date. Then do some research and determine what you want to invest in and what risk you want to take. 