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I wish to put 100-200 dollars a month into a Mutal Fund. Advice on doing this would be grand.

Looking to do this this week.

2007-01-23 06:45:00 · 13 answers · asked by joshuademex 1 in Business & Finance Investing

13 answers

You should check out Prosper.com for better interest rates. Good Luck!

2007-01-23 07:45:55 · answer #1 · answered by Anonymous · 1 1

I deal with a bank for mutual funds because I like the idea of money coming out of my account on a regular basis and buying funds. Your bank will advise in which you should have, in respect to your risk tolerance...Most banks have no load funds so it doesn't have a fee to buy or sell

I started years ago, I am now a millionaire, and even now I have never cancelled $500 every two weeks that goes into funds ($13,000/yr)

I invest other amounts at times, but this method I have done for over 25 years ( I Started up at $50/month and built it up to $500 every two weeks in about 10 years)

2007-01-23 08:48:57 · answer #2 · answered by bob shark 7 · 0 0

Don't take it to the bank...go directly to the mutual fund company (no-load funds and pay attention to fees each fund charges).....Most companies have a minimum to open account of $1000-$2500 then you can put increments of $100 or more any time you would like.

2007-01-23 07:23:09 · answer #3 · answered by Anonymous · 1 0

a bank will probably cost you more than you need to pay, go to a no load fund company like troweprice, fidelity,or vanguard and put it in a good fund, they can set it up to take it automatically from your bank account,
i like trowe price's target date retirement fund, just tell them the year you plan to retire and they set the allocation for you and invest in a bunch of different funds, very diversified right from the start

edit: and obviously dont fall for scammer like zila saying you get 20% a month or something,pretty stupid to garauntee that much,that is 70 million bucks after 5 years of 200 a month,

2007-01-23 06:58:59 · answer #4 · answered by swenjj 4 · 0 0

I would recommend buying stocks. Mutual funds have to pay part of your earnings to the managers to and employees. Also, your adviser typically gets a cut for recommending the fund. Do some research to find good companies to buy stock in, you'll get a better return for your money.

2007-01-23 13:55:59 · answer #5 · answered by STEPHEN J 4 · 0 1

Nighthawk has it right. Pick a no-load, no 12b-1 fee, low operating cost ratio (less than 1%) such as can be found in the Vanguard family of funds. Real Estate agents will tell you that it is location...location...and location. In mutual funds it is cost.. cost.. and cost. Go to to apply (if you wish to)

2007-01-23 07:54:33 · answer #6 · answered by Puzzleman 5 · 0 0

No swiss cash. No bank. No annuity. Either@ schwab.com or Vanguard or wherever - open an acct & get going now. If no IRA put the mutual funds into 1.

2007-01-23 10:27:09 · answer #7 · answered by vegas_iwish 5 · 0 0

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2016-10-16 00:05:41 · answer #8 · answered by ? 4 · 0 0

Work with the mutual fund people and they will help you divirsify the account.

2007-01-23 07:08:52 · answer #9 · answered by whatevit 5 · 0 0

There are a large number of websites that will help you with a decision. Just one is at the below link, but that'll give you a start. Good luck!

2007-01-23 06:55:25 · answer #10 · answered by Jolly 7 · 0 0

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