@AngelaLee,
There are some simple and basic principles of investing that all should follow:
1. Invest regularly to average cost your investments
2. Diversify into funds that have performed well for the long-term with low fees *These can be found at Morningstar.com.
a. Fidelity b. Vanguard Both are good institutions with low fees and above average performance
3. Don't "borrow" from your investments
4. Always have cash for that rainy day fund
5. Expand your funds, but not so many that it becomes unmanageable
6. As you grow older, start investing in treasuries. When you near retirement, make sure that your ratio of equities to bond funds are balanced yearly.
7. As with the practice of investing on a regular basis, withdraw your funds in the same way. In this way, you don't sell your funds at the highest or lowest prices
8. When you reach 70.5 years old, you will be required to withdraw minimum amounts from your investments
9. Calculate what your budgets are on a regular basis to determine how much you'll need to have in retirement. Don't forget that people are living longer lives, and you must be able to supplement social security to maintain your standard of living
10. That you are taking action at your age is to be complimented; many people wait too long before they begin to save for retirement