Need help: Opening an account with an investment company (Mutual Funds)

[nolovenohope]

I've been browsing around investment websites, reading a little bit, etc. and wanting to throw some money into a mutual fund. Some of the sites I have visisted such as Franklin Tempton, Oppenhiemer, etc. all have places for New Users to create accounts, yet they all prompt you for an account number?

How am I suppose to make a new account when they request an account number to begin with?

 

[alrocky]

Those two are LOAD mutual fund companies! It really don't make too much cents to lose 5.75% of YOUR money off the top.

 

[her209]

Originally posted by: alrocky
Those two are LOAD mutual fund companies! It really don't make too much cents to lose 5.75% of YOUR money off the top.

It makes sense if they make 5.75+% more than NO LOAD mutual funds, but that's another can of worms.

 

[alrocky]

--sigh--

that can of worms LOAD fund would have to gain 6.1% just to break even

 

[nolovenohope]

Originally posted by: alrocky
--sigh--

that can of worms LOAD fund would have to gain 6.1% just to break even

alrocky, so you would not recommend investment firms such as that? What would be another method of pursuing investing?

 

[erub]

Vanguard

/EOT

 

[tw1164]

you may want to talk to a fee only advisor to form an investment plan

 

[tontod]

I opened one with Charles Schwab last year, did not have an account with them previously. I bought a no load fund from there last December, its doing quite well.

 

[alrocky]

Originally posted by: nolovenohope

Originally posted by: alrocky
--sigh--

that can of worms LOAD fund would have to gain 6.1% just to break even

alrocky, so you would not recommend investment firms such as that? What would be another method of pursuing investing?

There are plenty of NO LOAD mutual funds with low Expense Ratios. Suggest you look at Fidelity, Vanguard, and T. Rowe Price.

There are a few things that you can control regarding your investments that greatly impact how large your balance will become at retirement: asset allocation, costs, and the amount of income and length of time you invest. The sooner you start and the more you invest the better for you in the long run. Buying funds with high Expense Ratios and funds with LOADS negatively impact your returns. Burton Marlkiel in A Random Walk Down Wall Street suggests you use a "50 50 rule"; first look for funds with Expense Ratios below 0.050% and funds with portfolio turnovers of less than 50%.

That leaves asset allocation...

 

[iversonyin]

Originally posted by: nolovenohope

Originally posted by: alrocky
--sigh--

that can of worms LOAD fund would have to gain 6.1% just to break even

alrocky, so you would not recommend investment firms such as that? What would be another method of pursuing investing?

Index ETFs/ mutual funds with LOW expense ROCKS !!!

Start you off with SPY and DIA and hit you up with some QQQ!!! Now you have the whole U.S. equities big cap!

 

[dud]

Call them.

I recommend T. Rowe Price. They have some of the best target retirement funds out there.

 

[DaveSimmons]

www.vanguard.com and buy their own stock index mutual funds.

They offer regular accounts, Traditional and Roth IRA retirement accounts, and rollovers of company 401k money when you change jobs.

 

[dartworth]

and there is the DaveSimmons vanguard response...you can almost set you watch to it...