Re: Adding to investments monthly...?
You might want to look into doing this with various mutual funds. There are many that do not have any fees (except for maintenance fees if you have a small balance). You might want to check out Vanguard or T.Rowe Price, for example.
You can set it up so that automatic deposits are made each month. But, be aware that some funds might have an initial investment minimum greater than $1K... I believe many of the Vanguard ones have a $3K initial investment minimum.
If you're adding 1K each month, you probably want to avoid any investments that would cost you commissions, since even $10-15 would be 1-1.5%. If you were going to go with investments that would require you to pay commissions, you might even want to bunch your trades. Perhaps putting in $3K per quarter.
-RMJ
|