Paper Trades

NoCoke · Nov 26, 2014

dirty moose said:
They want $3000 minimum grand to start up a brokerage account.

I use Vanguard as well and love them. Low cost funds are huge as another poster brought up, plus I think their app/website/tax documents are very user friendly. BTW, most of their mutual funds require a $3,000 minimum investment, but only require $100 for additional investments. Since mutual funds aren't actively traded, you're only allowed to buy/sell shares of a fund once per month. Not sure what your plan is, but those are a couple of things to think about.

NoCoke · Nov 26, 2014

dirty moose said:
Hmmmm I'm wondering if I should just contribute to the IRA and not the 401k? I won't be able to contribute as much tho.

If your company matches your 401k contributions, it'd be silly to completely ignore your 401k. Free money.

dirtymoose · Nov 27, 2014

No Coke said:
If your company matches your 401k contributions, it'd be silly to completely ignore your 401k. Free money.

I wish that were the case. But they don't at all.

So I would only be able to add money to a fund once a month? How about their ETF and index funds? Also what do they charge to buy shares? Is there a commission?

Thanks for your help fellas.

PatsFan1283 · Nov 27, 2014

dirty moose said:
I wish that were the case. But they don't at all.

So I would only be able to add money to a fund once a month? How about their ETF and index funds? Also what do they charge to buy shares? Is there a commission?

Thanks for your help fellas.

ETF you can add whenever. Index usually same rules as mutual funds.

I'm not sure what they charge but any discount broker is gonna be $7-9 a trade max. You don't need to buy them through them, can just do it on the open market.

NoCoke · Nov 28, 2014

With Vanguard, if you buy a Vanguard fund/ETF/index there is no commission. It's $7 per trade for the first 25 trades in a calendar year for stocks and non-Vanguard funds/etf/indexes. After the first 25 it goes up to $20 I believe.