Most of us love to find a bargain. We'll drive miles out of our way just to save a couple of bucks. But it amazes me how too many investors overpay when buying mutual funds. Here are a few ways to invest cheaply with good returns.

Index funds aren't flashy - but they're efficient. They're designed to track a benchmark like the S&P 500 and with little turnover don't trigger many capital gains taxes, so you can save money two ways. Plus they're easy to understand.

Two worth looking at are the Vanguard Total Stock Market Fund and the Fidelity Spartan 500 Index Fund.

Boomers looking for growth even as they head to retirement should consider a value fund, also with low fees like the R. Rowe Price Equity Income Fund. This fund will also pay you for your patience by providing dividends. If you're trying to avoid increasing your tax bill, stick this fund in your IRA.

Remember, bargains belong in your portfolio too, not just the mall.