Chris D
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Fidelity, Vanguard, & T. Rowe Price all offer monthly deductions from your checking account into a series of no-load mutual funds. The charge is a percentage of your total investment each year. If you chose an Equity Index Fund, one that tracks the overall market, the fee is approximately $3.50 for every $1000 you invest, significantly lower than elsewhere.
With these companies you can open either a taxable account (you pay taxes on the dividends each year and taxes on the gains when you sell) or you can open an IRA. You pay no taxes on anything until you reach retirement age. If you make less than $100k you can open a Roth IRA. With a Roth you can take money out early to buy a house or to go to/go back to school.
All three companies listed up top offer a wide variety of low expense mutual funds and won't try to upsell you on more complicated intrusments. If your company offers a 401k or something similar I would do that before I did either of the above options. |
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Frank Castle
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I suggest you to open a brokerage account. |
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cosaxteacher
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Go talk to a financial advisor at your bank. They are trained to help you invest in ways that will let you succeed in preparing for the future in a way that is suitable to you. |
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dyunn2
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water, it contains HYDROGEN. IT IS THE WAVE OF THE FUTURE FOR CLEAN FUEL. or CORN. it contains ethanol used for clean fuel. |
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lovelylady
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Kudos to you for being able to invest that much to start with. I suggest meeting with a financial advisor to talk about mutual funds. They are bundled groups of stocks diversified to minimize the risk and maximize returns, you decide how much risk you can tolerate, and your advisor will customize a portfolio that is right for you.
Less risk=more bonds...
More risk=more stocks...
Remember, you can always change your investment to suit life changes. |
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the01animal
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ica investment comp of america |
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twong18
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I would open a Roth IRA at a discount broker and put all the money into a balanced fund, maybe FBALX or VSTAR since your initial amt is low. |
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sdrtm
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Forget the financial advisors; with a low amount of money they will eat you alive with fees, and only push their own products.
Try sharebuilder.com; they have the lowest fees around for you to buy stocks of your choice. You can make regular scheduled purchasing payments. However, if you feel the need to sell, the fees are at around $20 per transaction. |
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Sammy
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You can start investing online. I invest with egold and I have nice programs. They give you 3% on your investment level and the minimum investment is $10.
Send me an email for more details.
Thanks.
N.B I promise you will enjoy the above programs and other High Yield Investment Program I participate. |
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Christopher Swing
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You should stick with mutual funds. This will give you the most diverse portfolio for your money. I would consider speaking to a CFP and they can explain which funds meet your investment criteria. |
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