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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? |
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He says he not concerned about deferring taxes, as in IRA's.
He has big NOL to write off any taxes for many years. |
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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:
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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.
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How about this
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The minimum investment in most of Vanguard's funds is much lower for IRAs.
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Per Vanguard's web site:
https://personal.vanguard.com/us/wha...r/ira/whichira "Vanguard Target Retirement Funds and Vanguard STARŪ 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 :) |
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Unless he's doing it for fun what would be the point?
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