@Anonymous wrote:then realized the minimum balance is 3k. Dang that's steep for a beginner. Oh,well. Have to be extra frugal this Xmas. Hopefully have the account by end of month
Pre-emptive welcome to vanguard family. There are an few 1k min mutual funds like their Target retirement fund, that are domestic stock, international stock, domestic bonds, and international bonds covers just about everything. Only thing is its heavily weighted toward large caps. The other option you have is you can buy individual ETF shares. An lot of vanguard mutual funds have ETF versions. Like the big one VTSAX has an etf version, VTI.
@Anonymous wrote:Thanks Mong, I might suggest my boyfriend do the MF. I'm going to bite the bullet and do the 3k IRA. Sitting here drinking my morning coffee as I pay my moms utilities. I think I need one of two things. a) kids to pay my utilities when I'm old or b) a big giant IRA
Sounds like an plan I opened my roth ira with an TR fund for one thousand. Thats all i could afford at the time :-( You can look at doing that just to get your feet wet and get started. I am not quite sure what min is for roth ira at vanguard. I don't know if you could just buy one share of vti at 105 or whatever its at now and start that way.Best thing to do is call and ask them they were very nice last time i called.
@Anonymous wrote:
@mongstradamus wrote:
@Anonymous wrote:Thanks Mong, I might suggest my boyfriend do the MF. I'm going to bite the bullet and do the 3k IRA. Sitting here drinking my morning coffee as I pay my moms utilities. I think I need one of two things. a) kids to pay my utilities when I'm old or b) a big giant IRA
Sounds like an plan I opened my roth ira with an TR fund for one thousand. Thats all i could afford at the time :-( You can look at doing that just to get your feet wet and get started. I am not quite sure what min is for roth ira at vanguard. I don't know if you could just buy one share of vti at 105 or whatever its at now and start that way.Best thing to do is call and ask them they were very nice last time i called.
Thanks Mong! I ended up doing exactly this. I just up my account and am waiting for funds to transfer. I think I'm doing the TR 2045 for starters. Can you invest in multiple trust or shares I'm wondering while I learn about this stuff.
TR 2045 is an good fund , what most people do is just contribute to that till you get at least 30,000 dollars, then they can decide if they want buy the admiral shares of the individual funds that are in the tr 2045 because the expenses are an little cheaper that way. In general their TR funds are only .18 % so thats pretty cheap already so you can just continue to contribute as much as you can every month and you will have one of the most diversified mutual funds around.
I am sorry i don't know too much about trusts. My advice is if you already have an built emergency fund just contribute as much as you can. Goal should be to try and contribute 450 per month so you would be able to hit cap of 5500 an year.
@Anonymous wrote:Just in time to tack on to my lists of accomplishments for 2014. What is the cut off date for 2014 5500. April 1st? That'll be hard to to, but I'll try.
yeah something like that , just try and put in as much as you can afford. Something is better than nothing !!!
@Anonymous wrote:Catch up!!!! 1k this month. 2k in jan with the extra paycheck. 1k feb and march.
After that I'll start a normal pace of 225 on every paycheck.
Awesome !!! If you do 225 every paycheck you will hit cap before end of the year so keep that in mind, its only 5500 cap per year lol