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-   -   Advice for small investment (https://www.talkofthevillages.com/forums/investment-talk-158/advice-small-investment-63756/)

jimbo2012 11-08-2012 07:41 PM

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?

eweissenbach 11-08-2012 08:35 PM

Quote:

Originally Posted by jimbo2012 (Post 578607)
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.

KayakerNC 11-08-2012 08:44 PM

Quote:

Originally Posted by eweissenbach (Post 578624)
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.

jimbo2012 11-08-2012 08:48 PM

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

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

eweissenbach 11-08-2012 10:14 PM

Quote:

Originally Posted by KayakerNC (Post 578628)
Even IRA's require a minimum investment, usually $3000, with Vanguard.

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 A Roth is not currently tax deductible, so that might fit his needs, it is tax free when it is withdrawn.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

jimbo2012 11-08-2012 10:19 PM

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?

2 Oldcrabs 11-09-2012 06:52 AM

Vanguard
 
Wellington Fund @ Vanguard. :read:

JeffAVEWS 11-09-2012 07:20 AM

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.

renrod 11-09-2012 09:37 AM

How about this
 
Quote:

Originally Posted by jimbo2012 (Post 578607)
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?

How about investing in a startup solar panel company?

batman911 11-09-2012 12:34 PM

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

Bill-n-Brillo 11-09-2012 01:37 PM

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 :)

Shimpy 11-09-2012 04:28 PM

Quote:

Originally Posted by renrod (Post 578772)
How about investing in a startup solar panel company?

:boom: That's good!

KayakerNC 11-09-2012 04:56 PM

Quote:

Originally Posted by batman911 (Post 578837)
The minimum investment in most of Vanguard's funds is much lower for IRAs.

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

jimbo2012 11-09-2012 10:07 PM

Quote:

Originally Posted by renrod (Post 578772)
How about investing in a startup solar panel company?

Hard to do on $200 a month :thumbup:

Patty55 11-10-2012 01:06 PM

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


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