- Blue Chip Stock: Fidelity Spartan (FSMKX)
- Blue Chip Foreign Stock: Vanguard Total International Fund (VGTSX)
- Small Company Growth: T. Rowe Price New Horizons (PRNHX)
- Value Stock: Vanguard Value Index (VIVAX)
- High Quality Bond Fund: Vanguard Total Bond Index (VSMFX)
- Inflation Protected Bond Fund: Vanguard Inflation Bonds (VIPSX)
- Cash: Fidelity Cash Reserve (FDRXX)
Once you've picked the funds, however, you're only half way. You then have to select your portfolio composition. In other words, what percentage of your investment will you put in each fund. CNN-Money has a description linked to the investment options.
If you're making your very first investment in mutual funds, you might want to consider an asset allocation fund like USAA's Cornerstone fund. It has a 5 year return of more than 9% and is a blend of equity investments.