Most of the personal-finance-advice industry is parasitic and/or self-deluded, and it's generally agreed on by economic theory and experimental measurement that an index fund will deliver the best returns you can get without huge amounts of effort.

True. But just because something is marketed as an index fund doesn't make it an actual index fund. You want to invest in an index fund that has (1) low fees, (2) indexes something large such as the S&P 500, and (3) can be invested in via a tax-preferred mechanism such as a pension plan.

I'm an academic economist who writes a column for Better Investing Magazine.