Advice for small investment
 

My cousin, just turned 60, he's self employed no retirement plan in place at all, he wants to put $200 a month into something to have a little nest egg down the road.

Any ideas for this better late than never idea?

Many options would be good. I would suggest a Roth IRA in an index fund with Vanguard.

Even IRA's require a minimum investment, usually $3000, with Vanguard.

He says he not concerned about deferring taxes, as in IRA's.

He has big NOL to write off any taxes for many years.

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 A Roth is not currently tax deductible, so that might fit his needs, it is tax free when it is withdrawn.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.

I think he can put a lump sum of a few thousand in.

What if you know, could he expect as far as a return on his investment?

Vanguard
 

Wellington Fund @ Vanguard. :read:

Vanguard is good, low administration fee's, my wife 401K is in targeted life cycle funds there. I think Fidelity's fees are just a little higher. If your brother is a military Vet he can use USAA. I'm in banking and funds there, really easy to use. The fees are higher, but I'm a "not all in one basket" kinda guy.

How about this
 

How about investing in a startup solar panel company?

The minimum investment in most of Vanguard's funds is much lower for IRAs.

Per Vanguard's web site:

https://personal.vanguard.com/us/wha...r/ira/whichira

"Vanguard Target Retirement Funds and Vanguard STAR® Fund require a minimum initial investment of $1,000; for most other Vanguard funds, an initial investment of at least $3,000 is required in each fund you choose for an IRA. Certain funds require higher minimum investments."

(The double-asterisk notation at the bottom of the page)

Bill :)

:boom: That's good!

Ummmm....no, it's not.

Hard to do on $200 a month :thumbup:

Unless he's doing it for fun what would be the point?