NEW YORK (MONEY Magazine) - The best long-range investments for beginners are mutual funds that come with no sales commissions and low annual fees (so that more of your money goes to work) and that spread your stash over a wide swath of the stock market -- and maybe the bond market too (because diversification equals safety).

Remember, with investing, consistency is the key. High-quality stocks may provide an average return of about 10 percent a year, but only if you buy at reasonable prices. If you put all your money in the market when it's at a peak, you'll end up with below-average returns even if you hold on for decades.

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You can minimize that danger by investing a set amount of money regularly, what's called dollar-cost averaging. Here are three funds that are a good place to get started investing.