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Help me invest $2000

V

VanTheMan

Golden Member
I know these threads pop up every once in awhile, but I figured I'd start my own so I could get some current information.

I know very little about investing, but I want to start. I have several thousand dollars saved, so I'm thinking I could start with $2000 right now. From the research I've done, I'm thinking I want to go with a Vanguard or Fidelity index fund. I just don't know enough about them to make a decision on what fund to invest in. Any advice is welcome and appreciated.
 
You already have it. Vanguard index fund. I forget if its a $2 or $3000 minimum, but TIAA-CREF has lower mins if you need that.

$2k isn't enough to diversify into invidivual stocks, and index funds have good returns in the long run.

If you don't have one already, open an IRA. Contribute 4k a year. Vanguard's a good place for those too.
 
Originally posted by: sjwaste
$2k isn't enough to diversify into invidivual stocks, and index funds have good returns in the long run.
Click to expand...
I say screw diversification... all or nothing@!@@@!@
 
how old are you?
do you have a job?

personally, I'd buy 1k-2k of some 1-2 dollar stock shares
in a company with solid fundamentals and a good technical chart.
 
Originally posted by: Triforceofcourage
high yield online savings account. Amtrust direct has one for 5.3%
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Also a very good recommendation. If OP is younger, though, might as well put it towards retirement. I'm 25 and put most of my monthly savings into a 401k (heavy on int'l index funds), with about a quarter going into a ~5% emigrant direct savings acct for liquidity.
 
I'm 24 and I have a job. Petejk, buying individual stocks seems a little risky for me right now. Would it make more sense to start doing that after I have some more solid investments in place? Would it be a good idea to put $1000 or so into one of the online savings accounts in addition to putting $2000 into an index fund?
 
Originally posted by: IGBT
..how much is Ford stock?? less then 5.00 a share?
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$7.62 per share.

Note to OP: make sure $2,000 is enough to open those funds up. Many funds have requirements of $2,500 minimum to open. YMMV.

With that said, DODFX (Dodge and Cox International Fund)! 😀
 
What amount of time do you want to keep this money invested? What purpose do you intend to use it for? Where is the money right now (and int rate)?
 
If it's a matter of $500 to buy into a good fund, I'll spend the extra $500. This will be a long term investment for retirement. The money is currently in a non-interest bearing checking account.
 
Originally posted by: VanTheMan
If it's a matter of $500 to buy into a good fund, I'll spend the extra $500. This will be a long term investment for retirement. The money is currently in a non-interest bearing checking account.
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Then you really can't go wrong with the Vanguard SP500 fund. Just make sure whatever broker you choose doesn't have a load or sales commission on that fund.
 
If this is for retirement, open a retirement account. IRA. You can google the advantages, check FW Finance, etc. Most will waive fees for IRA accounts that they would normally charge with the same amount invested in a brokerage acct.
 
What is the procedure to invest in a mutual fund? Do I have to go through a broker?

What's the most efficient and cost effective method?
 
I can't seem to find any Fidelity index funds with less than a $10000 minimum. I see domestic equity funds with $2500, but no index funds.
 
Originally posted by: thereds
What is the procedure to invest in a mutual fund? Do I have to go through a broker?

What's the most efficient and cost effective method?
Click to expand...

Buy directly from the fund company. Never buy through a broker and pay a load or commison unless you're a dumbassessss
 
Originally posted by: VanTheMan
What would something like a the Vanguard SP500 mean for my taxes? I don't have an IRA or anything.
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Same boat as you; but I've opted to go w/ opening an IRA account - my company has a program that matches (to a limited amt) the dollar amt put into the IRA acct as well - I believe that this is a pretty common thing amongst companies (I'm not sure), but I'd defnitely suggest looking up an IRA account.
 
Originally posted by: puffff
why go with a fund. learn a little bit about the stock market and make your own decisions.
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I'd rather not have the stress and risk of buying individual stocks. If I was going to do that, I would want to study the market for several years and I'm looking to get something started right away.
 
Originally posted by: VanTheMan
Originally posted by: puffff
why go with a fund. learn a little bit about the stock market and make your own decisions.
Click to expand...

I'd rather not have the stress and risk of buying individual stocks. If I was going to do that, I would want to study the market for several years and I'm looking to get something started right away.
Click to expand...

believe me...buy a Cramer stock of the year...just hold it til year end and sell. Cramer says NYX is going to $240...believe it. Anything he says will push stocks up like crazy. Buy at the $100...sell some at $150...sell some at $200...then sell the rest at $240...easy money.
 
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