Lifecycle investing

This is my first time posting a finance-related question here, but I thought there might be some smart people who can point me in a good direction. Some creative thinking might be useful. What is the best way to set up an IRA to have leveraged stock market exposure? What I have in mind is approximately 2:1 exposure to an index such as the S&P 500. I am in my mid-twenties and have about 20,000 USD in an IRA which is completely invested in a mutual fund called Thrivent Mid Cap Growth A. And I have felt for a while that I should put the money in something with higher risks and higher yields at least until I am thirty. When I saw that Robert Shiller at Yale recommended a book titled, Lifecycle Investing, I eagerly read it. The authors suggest doing exactly what I have described above. I called Vanguard a couple days ago and ended up feeling a little discouraged: My complete lack of investing experience may prevent a brokerage firm from approving me to buy stock options in order to achieve my goal of leveraging.

I understand that the Internal Revenue Service prohibits using an IRA to invest on margin. Call options, however, might be permitted in an IRA. Perhaps, but that particular ETF is not designed for long-term investing, as the article states. I have not yet heard of a good ETF for this purpose, or any truly viable solution for that matter.

When I started this thread, I have to admit I wasn't terribly optimistic about finding a quick solution. The problem is that I don't really know what I should be doing with my IRA. I guess there are two options.

1. Set and forget with a broad index or a mutual fund.
2. Spend many, many hours learning about investing -- not really knowing where to begin.

Penny stocks?

How hard would it be to create an ETF that tracks the S&P 500 -- times two -- for the long haul? Does it require a degree in finance? And while we're at it, how about a 2:1 leveraged ETF for each of the most promising emerging markets? Even if it's not a smart retirement investment for everyone, I am sure some investors would find such things useful especially as part of a larger portfolio.

Thanks to you all for responding to my stupid questions. There are other things I would rather do than learn investing, but doing so might be really important for me. Honestly it all kind of reminds me of the subject of nutrition: The bookshelves are full of bad advice, and I recently ended up getting a biochemistry book and learning more than any normal person should need to know about carbohydrates and triglycerides. If doing something similar is required for investing, I'm open. But where do I begin?