Starting a new account

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Bkplaymaker
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Joined: Tue Feb 06, 2018 2:43 pm

Starting a new account

Post by Bkplaymaker » Mon Feb 12, 2018 11:53 pm

I would like to start to build a new portfolio and I don’t know how to start. The most I can start with is $500 and who can I open an account with.

Thank You

Rom1b
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Re: Starting a new account

Post by Rom1b » Tue Feb 13, 2018 8:03 am

Bkplaymaker wrote:
Mon Feb 12, 2018 11:53 pm
I would like to start to build a new portfolio and I don’t know how to start. The most I can start with is $500 and who can I open an account with.

Thank You
Hi.
We'd be glad to help if you give us a bit more details about you. Do you live in the US ? Age ? Kids ? Debts ? Do you keep a bit of cash in case something happens ?

Its full of information on that site, I can recommend these summaries:

viewtopic.php?f=10&t=88005

viewtopic.php?f=10&t=7353

Some funds / ETFs you can buy with 500$ for sure. Here in Germany also many banks/brokers offer free 'savings plan' sort of, where you can buy small amounts of ETFs/share per month or half year with no commission.

The earlier you start the better in my opinion, do not go crazy or spend it all on bitcoins though or some 'great new idea' some genius-blogger or guy on TV had (and gets paid for); good luck
Dr Bernstein - If You Can / free PDF, google it | 3Fund Portfolio www.bogleheads.org/forum/viewtopic.php?f=10&t=88005 | CollectiveThought www.bogleheads.org/forum/viewtopic.php?f=10&t=7353

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Tyler Aspect
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Re: Starting a new account

Post by Tyler Aspect » Thu Feb 15, 2018 11:08 pm

Bkplaymaker wrote:
Mon Feb 12, 2018 11:53 pm
I would like to start to build a new portfolio and I don’t know how to start. The most I can start with is $500 and who can I open an account with.

Thank You
Hi, this is an example $500 Three Funds portfolio at Fidelity. Assuming age 20 to age 30 or so.

4 shares ITOT (iShares S&P 1500 Index) $249.6
2 shares IEFA (iShares Core MSCI EAFE ETF) $133.96
1 share AGG (iShares Aggregate Bond ETF) $106.59
Past result does not predict future performance. Mentioned investments may lose money. Contents are presented "AS IS" and any implied suitability for a particular purpose are disclaimed.

PFInterest
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Re: Starting a new account

Post by PFInterest » Thu Feb 15, 2018 11:11 pm

With your lack of info: VTI.

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StevieG72
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Re: Starting a new account

Post by StevieG72 » Thu Feb 15, 2018 11:42 pm

Open account with Vangaurd.

Buy $500 of VTI.
Fools think their own way is right, but the wise listen to others.

TwstdSista
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Re: Starting a new account

Post by TwstdSista » Fri Feb 16, 2018 6:00 am

Schwab might be best for you -- no minimums on:

Schwab Total Stock Market Index Fund (SWTSX) ER 0.03%

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ruralavalon
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Location: Illinois

Re: Starting a new account

Post by ruralavalon » Fri Feb 16, 2018 11:51 am

Welcome to the forum :) .

Some additional information would be helpful.

Do you currently have any investing or retirement accounts, or is this your first account?

What is your age?

What is the general purpose for this account?

Are you employed, and have earned income? About how much?

You can simply add this to your original post using the edit button (the pencil icon near the upper right of your post), it helps a lot if all of your information is in one place.


Bkplaymaker wrote:
Mon Feb 12, 2018 11:53 pm
I would like to start to build a new portfolio and I don’t know how to start. The most I can start with is $500 and who can I open an account with.

Thank You
I suggest an account at Schwab, because their mutual funds don't require a significant initial minimum investment. You can start with $500.

If you are employed and have earned income, then I suggest that the account be a Roth IRA.

For very good dIversification and low expenses, for a start consider one of the Schwab Target Date Index Funds, with an expense ratio of just 0.08%. Low expenses are critical to long-term investing performance. Broad diversification is important to decrease your risk.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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