Q: Several years ago I bought your book, High Finance on a Low Budget, and followed your advice. Today I am 17 years old and have a fairly solid portfolio including certificates of deposit, Twentieth Century family of funds, and precious metals. Now I'm ready to expand a little, but I noticed your book was written over three years ago. Now that the investment climate has changed, what do you recommend?

A: Your letter made my day. I wish there were more young people like you who start early saving and investing. Perhaps if more of us older investors would buy some introductory books on saving and investing (such as George Clason's classic Richest Man in Babylon) and give them as gifts to young people, the next generation of Americans would bring forth a new age of peace and prosperity.

My wife and I are in the midst of updating High Finance on a Low Budget, which should be out later this year. Right now, I suggest you focus on the Twentieth Century family of funds. I would hold onto your precious metals, they are bound to go up in the next few years.