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Investing $10k - Where Should I Put It?

In this case an annuity may make sense. I had a variable annuity opened with Fidelity for each of my kids when they were young, and it was meant for their retirement. So far both my kids and their annuity accounts are both growing.
I won't speak to the legalities above as I am truly clueless in those areas...
For that time frame, I'd follow the Buffet bet.  Pick the lowest fee S&P tracking fund and buy that.  If truly left for 40 years, that should be a significant sum.
As for the zero cost funds Fidelity just created.  Are they truly zero cost?  As I understood it from a brief article read (so no, I haven't read the prospectus), I thought that they were a fund that bought other funds.  The other funds charge fees to the zero cost fund.  So Fidelity gets paid and it still hits your investment, just second handed.  I don't see how that's zero fee at all.  Your investment doesn't pay the fee but you investment buys other investments that are charged a fee.  Same same, in my book.

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