Opening an investment account usually requires a minimum of $1,000 to $2,500.
Since most investors and professional fund managers cannot beat the market as a whole, stick with an index-based mutual fund, such as, FUSEX (Fidelity Spartan 500 Index Fund). FUSEX tracks performance of the S&P 500 Index and charges an expense ratio of just 0.10% per year.
Index funds are a form of mutual funds. Funds can be either index or managed funds. The key to making money in mutual funds over the long term is to not just get return, but hold down management fees. Index funds have much lower management fees (maybe 0.35% instead of 0.8% or even 1.0%) and that makes a huge difference in your return over time. Fees are invisible in that they are built into returns, so you actually have to look for them.
The best index fund firm is Vanguard. They invented it and their fees are very low. http://www.vanguard.com
You will need at least $1,000, more for some funds.
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Some mutual fund companies will allow you to open account with a much lower minimum as long as you sign up for regular monthly contributions.
How much money do you need and how do I get started?
