Warren Buffett advice

From the blog of Tim Ferris (author of The Four Hour Work Week). He asked the following question of Warren  Buffett at the Berkshire Hathaway shareholder meeting:

“If you were 30 years old and had no dependents but a full-time job that precluded full-time investing, how would you invest your first million dollars, assuming that you can cover 18 months of expenses with other savings? Thank you in advance for being as specific as possible with asset classes and allocation percentage.”

Buffett let out a small laugh and began. “I’d put it all in a low-cost index fund that tracks the S&P 500 and get back to work…”