how do i get started buying mutual funds?

Question

is there some sites that i can go to to buy them? and how do i pay for them? can i use paypal since i dont have a credit card?

Answer 1

I suggest going to vanguard.com and reading up on mutual fund investing. They have lots of good educational material on their site for anyone to read.

Why do you want to buy mutual funds? Do you want to purchase them as part of a retirement account? Or just for general investing? And, how long do you plan on holding the mutual funds?

Depending on what your investment objectives are, there are a wide range of choices. You really need to read up and get yourself educated before plunging in.

When you do know what you want to purchase, I would suggest buying your mutual funds from a large, no-load (i.e., no commission costs) company such as Vanguard or Fidelity. There's so many great no-load funds out there, that there's no excuse for you to ever buy a mutual fund that charges a commission (a "load") either up front or when you redeem the funds.

As for purchasing them, typically you purchase by check not credit card. (I know of no company that will let you use credit cards to purchase mutual funds.)

Good luck!

Answer 2

First of all you can't buy mutual funds with a credit card. You must have hard cold cash.

Next you must do lots of research to find out what you want to invest in. Try talking to someone at your bank. Most large banks have a variety of non-loading mutual funds for you to choose from. There usually is a minimum investment amount. Registered investments (RRSPs) on average have a lower minimum than non-registered.

Also don't take the advice of only one person. Get two or three opinions.

Answer 3

I use www.computershare.com to buy individual stocks
there are others, search for them and pay attention to fees. I buy a few stocks every month and the funds are taken out of my checking automatically the same time every month.

I use share builder (www.sharebuilder.com) to by EFT/Mutual funds. Like someone said before it's all about the fees or loads. When I buy EFT's I go for the lowest load as possible. I use the $12 per month program that allows me to buy into 6 funds a month, each additional is $2. I'm set up for 5 EFT's and the money is taken directly out of my checking the same time every month. Vanguard are good no load funds.

Now choosing what you want to buy that's a huge question.

Answer 4

Don't buy mutual funds. The fund managers and their employees all have to get paid, this cuts into your earnings. That makes them less attractive, so they will pay advisers to recommend them, further cutting into your earnings. If you want diversification, do a little research and buy stocks. It's cheaper for the long run.

Answer 5

My recommend (particular I own mutual money) is to flow to a economic adviser. Edward Jones or the like. till you're a real whiz at industry tendencies, etc. it fairly is ultimate to take heed to the recommend of an authority. this does not recommend you are able to't do a sprint learn on your man or woman (you ought to). i opt for to recommend installation a month-to-month fee that is going into the fund, even though plenty you are able to. think of of it as a month-to-month bill and forget approximately approximately it. The adviser can do all of this for you, you in undemanding terms sign the papers and that is achieved.

Answer 6

1. You can buy mutual funds directly from the mutual fund companies (ex. vanguard.com, troweprice.com,etc.) or you can buy them from some online broker (fidelity.com, schwab.com, ameritrade.com, scottrade.com, etc.). I will recommend buying it directly from mutual fund companies (why pay any money to brokers when you can do it free).

2. You can pay them online by giving your checking account number or you can send them a cheque.

Answer 7

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