Mutual Fund?

[V00DOO]

Instead of spending money on booze and women, I want to start saving for the future. Can some recommend a mutual fund? I don't have a lot of money to began but I figure any saving is better than no saving.

 

[gopunk]

vfinx

 

[Nitemare]

Vanguard S&P ndex is good

How much have you got for startup? Most mutual funds require 500-5000 to get one started

Current Funds:
SGRTX 13.01 +0.28
FTCHX 23.57 +0.04
ACEMX 30.82 +0.08

 

[V00DOO]

How much have you got for startup? Most mutual funds require 500-5000 to get one started

I have $500 to start and probably put in $100 per month. I was looking at the Vanguard S&P index from previous OT threads. Thanks guys.

 

[Nitemare]

Originally posted by: V00DOO

How much have you got for startup? Most mutual funds require 500-5000 to get one started

I have $500 to start and probably put in $100 per month. I was looking at the Vanguard S&P index from previous OT threads. Thanks guys.

That's a pretty safe bet, plus it's a no load fund. If you want to diversify put some money into a Growth or BioTech fund. Pick up an episode of Fortune or Money magazine, both routinely list good choices in funds

 

[DaveSimmons]

If you have earned income last year you might check if that's enough to start a Roth IRA account directly with vanguard (www.vanguard.com) for 2003. If not, putting it into an INGDirect.com savings account will earn about the best interest rate you'll find while you save up enough to get some VFINX goodness.

 

[Nitemare]

Initial Minimum Investment
General=$3,000; IRA=$1,000; UGMA/UTMAs=$1,000

for Vangiuard Index

 

[V00DOO]

Initial Minimum Investment
General=$3,000; IRA=$1,000; UGMA/UTMAs=$1,000

I just noticed $3,000 Mininum when trying to sign up. I already have an ING account.