If you open a brokerage account at Vanguard, and purchase VTSAX (Vanguard Total Stock Market, admiral shares), it's fairly tax efficient. Every year, it issues 2% dividends, which for most people are taxed at 15%. So you invest $10,000 and wind up with $200 in dividends and pay $30 in tax. It's more expensive - like having a 0.34% expense ratio instead of a 0.04% expense ratio.