mutual fund - An investment program funded by shareholders that trades in diversified holdings and is professionally managed.
An index fund is a type of mutual fund with a portfolio constructed to match or track the components of a market index, such as the Standard & Poor's 500 Index (S&P 500). An index mutual fund is said to provide broad market exposure, low operating expenses and low portfolio turnover.
Step 1: A multitude of things for Step 1. Requires much more than I can post.
Somewhere between Steps 2 & 5(arbitrary numbers) we need to promote the long term investment potential of Index Funds. [An investment program funded by shareholders that trades in diversified holdings and is professionally managed.]
There are many benefits to mutual funds, however I want to focus on a few that will help any unified cause.
1- Index funds create a sense of marathon mentality in the investors that take it serious. It doesn't involve the exciting and risky life of stock trading. It is about consistently placing more money into the fund through it's life cycle and reaping the benefits of its low risk long term gains.
With the marathon mentality, it fits into the type of legacy environment we are trying to recapture with our people. We see the bigger picture and realize that starting an index fund as early as possible could place you (and your family) into a very strong financial position long term. The cautious type become more cautious and thoughtful. The risky type start to settle down more since much is at stake. Why get involved in something - poor decisions and criminal activity - that may result in your sabotaging your resource building.
2- Index Funds also create a sense of control, nation share, and belonging. Much like a home and owning a business (both of which should be part of the initiatives) do. This is a bit taboo because it splinters the groups into debating whether we should want to feel part of this Country considering how much blood is on its hands.
The thing is, whether the Nation, as a whole, actively wants us or not, feeling like you own a part of what makes the Nation run can provide more psychological benefit than not. You'll vote in local elections more(they'll affect your taxes, small business and home rights and privileges), you'll be a protector of your community acting as a check and balance to keep it working properly and to keep it respected.
Much like what I mentioned above, owning a diversified portfolio that feeds you a profit from the average returns of the companies you've invested in will provide an incentive to keep the investor educated about what is going on in the world/country that will impact your investment.
Just brainstorming. Hope I provided something constructive here.
This book really put investing (and my support of index funds) into my future planning.