Quote:
Originally Posted by KayakerNC
Even IRA's require a minimum investment, usually $3000, with Vanguard.
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Don't know specifically about Vanguard, but most companies will accept qualified money on a monthly basis that is less than their lump sum investment minimums. A Roth is not currently tax deductible, so that might fit his needs, it is tax free when it is withdrawn. As long as he qualifies for a Roth, there is no downside since he would not be exceeding the contribution limit. Vanguard is a very large no load mutual fund manager that has an excellent track record, there are many other good options.