mutual funds for under 350 dollars?

Question

I've saved a small amount of money and don't know where to invest it I already own my house.

Answer 1

cwgfx (or any other american capital fund) minimum invest is $250. PAXWX is another $250 fund I owned in the past.

Answer 2

You are very unlikely to find a mutual fund for $350. Most start at around $1000 to open and up. You could find an online savings account to park your money in and make between 4.4% and 5.05% with no minimum balance depending on what financial institution you went with. There is ING Direct, HSBC, Emigrant Direct, and many others.

Another poster mentioned ETFs or exchange traded funds that are a fraction of the mutual fund. Yes they do trade like stocks but also have similar transaction fees to buy or sell. I wouldn't even consider ETF's unless you had upwards of $5,000 or more and traded VERY infrequently.

Is there a future goal for this money? Short term or long term? What is your risk tolerance? Other questions to ask yourself.

Answer 3

Call Fidelity at 1-800-544-5555, or any other investment firm. They can tell you how much you need to get into mutual funds. Go for the no load funds, and avoid loaded funds. Loaded funds charge fees. Most investment firms have similar standards, so it would help answer your questions.

Answer 4

ETFs are created and run by mutual companies, but act more like shares than mutual funds. Look at the heavly traded SPY and QQQQ.

Answer 5

Here's a page for finding a good good mutual fund to invest in:
http://www.best-stock-trading-systems.com/mutual_fund_ratings.html

Answer 6

Open an account with T Rowe (I think that's their name). THen every month you can add to it in small increments of $25.00p/month.

Answer 7

FFALX