Any way to buy fractional shares of index funds?

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BHawks87
Posts: 117
Joined: Mon May 07, 2012 2:03 am

Any way to buy fractional shares of index funds?

Post by BHawks87 » Tue May 15, 2018 9:55 pm

Sounds silly but my wife and I are collecting cans from co workers and friends and returning them for money. Just for the fun of it we would like to set up an investment account with just our can proceeds to see how much we can get!

Any way to invest $10-$20 a month in index funds?

student
Posts: 2293
Joined: Fri Apr 03, 2015 6:58 am

Re: Any way to buy fractional shares of index funds?

Post by student » Tue May 15, 2018 9:59 pm

Fractional shares will not be an issue as you specify the dollar amount. However, many funds have minimum balance requirement and minimum subsequent purchase requirement, usually at $50.

Edit: Schwab is one of the few exceptions with no minimum requirement.
Last edited by student on Tue May 15, 2018 10:01 pm, edited 2 times in total.

jacoavlu
Posts: 465
Joined: Sun Jan 06, 2013 12:06 pm

Re: Any way to buy fractional shares of index funds?

Post by jacoavlu » Tue May 15, 2018 10:00 pm

Look at the likes of M1 finance, Betterment, Wealthfront, Robinhood, I’m sure there’s others I’m forgetting, the new age robo type places.

I know at M1 you can do this, even with individual equities.

jacoavlu
Posts: 465
Joined: Sun Jan 06, 2013 12:06 pm

Re: Any way to buy fractional shares of index funds?

Post by jacoavlu » Tue May 15, 2018 10:02 pm

If it’s mostly for fun I’d advise not to overlap your investment choices with your other accounts. You don’t want this little funny money creating wash sale issues taking up your time later

MotoTrojan
Posts: 1874
Joined: Wed Feb 01, 2017 8:39 pm

Re: Any way to buy fractional shares of index funds?

Post by MotoTrojan » Tue May 15, 2018 10:11 pm

Acorn is another option.

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