A fortunate few of you have written to me saying that you have extra cash you'd like to invest in the market. In fact, 2009 will be a very good year to invest monthly in stocks. Surprised? Let me explain.

If you can patiently ride out the down periods, there is much convincing history that stocks will eventually recover and go on to post gains that outpace what you can earn from investing in bonds or by keeping all your money in cash. But you must have at least 10 years, preferably longer, before you intend to touch that money.

If you do have time on your side, you can get great deals on stocks right now. At today's lower prices, your money buys more shares than it did a year ago, when prices were 30 to 40 percent higher. And more shares is the goal. Don't worry about current market values—you want to scoop up as many shares today as possible; the more shares you have, the more you will make when stocks rise. I am in no way suggesting that may happen over the next year, or two, or three. What you care about is 10, 20, 30 years down the line.

I recommend sticking with exchange-traded funds (ETFs) or low-cost no-load mutual funds; you make one investment that comprises dozens of underlying companies. That's what is called diversification, and it is a vitally important way to lower your risk. I like the Vanguard Total Stock Market ETF (VTI) or its mutual fund cousin, Vanguard Total Stock Market Index Fund (VTSMX); both invest in a broad swath of American companies. You might also invest 10 percent of your money in an international ETF, such as iShares MSCI EAFE Index Fund, which holds hundreds of stocks from established companies in Europe, Australia, and the Far East. Much of the world's economic growth occurs outside the United States, so you want to have a portion of your money invested in those sectors.

Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.


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