Whats is the best and most cost effective way to invest $3000 in a mutual fund? Do i need a broker or online?

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Whats is the best and most cost effective way to invest $3000 in a mutual fund? Do i need a broker or online?

Common Sense

Before investing in anything I'd suggest at least getting a basic understanding of mutual funds and investing (in general). If you're too lazy to learn & just want a quick investment....
Vanguard Funds would be the best choice. Do the S&P500 Index Fund or the Total Market Index Fund for diversification & low cost(no commission).

A Brokerage may charge account fees for such a low balance.
For $3000 go direct to a good no-load mutual fund company like;
Vanguard
Fidelity
T. Rowe Price
etc.

united9198

I would use a full-service online broker such as Fidelity. They have lots of options for investment products including mutual funds.

I would caution you a bit to look hard at mutual funds. With CD rates at 5% or more that might be a better way to go right now.

Frank Castle

1) TradeKing.
2) Yes.

muncie birder

Unless it is a closed end fund, which is traded like a stock, you can purchase the fund directly from the fund company. Go to their web site and down load the application form, fill it out, enclose a check, put it in a stamped envelop addressed to them and you are in business.

toronto_guy77

Put your finger in the mutual fund broker's bum and quack like a duck!

STEPHEN J

The most cost effective way to invest in a mutual fund is to not do it. Mutual funds aren't good investments. The mutual fund managers and your financial adviser all get paid when you buy one, which cuts into your earnings. When you buy one, you're adding a middleman. Do a little research and buy stocks, you can get diversity on your own. It's a much better option.

Jocko

Why don"t you use that SHORT simple brain of yours and go and find one.D.H.

ekleinert

you can get a broker on line - I use Ameritrade however Vanguard has many many funds and there is no charge at all

Ralfcoder

It depends on the fund you choose. You might be able to contact the fund management company directly, and send them a check when you enroll in the fund. That way you'll avoid the commission.

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