A few months ago, one of the few investment icons actually bigger than Schwab, Warren Buffett, revealed that if his wife survives him, his estate plan will recommend keeping 90% of her inheritance in the Vanguard Index 500 fund VFINX +0.08% , with the rest in short-term government bonds.
.. “First you must decide that you want to be an indexer,” said Wiener, “and what Buffett and Schwab are reminding you is that being an indexer means you believe in broad diversification, not trying to time the market or shifting investment strategy or technique to the newest hot thing on the market.