VTSAX periodic investing in Chase

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Topic Author
arnik83
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VTSAX periodic investing in Chase

Post by arnik83 »

Hi All,
I am currently having mostly VTI in my chase youinvest account.

I would like to start buying VTSAX on a monthly basis so I thought I will put in an order for the $3000 today and setup the repeating purchase.
But when I go to the periodic investing page... it says for VTSAX initial minimum is $3000 and repeating purchase also is $3000 min.

Has anyone set this up in Youinvest or am I seeing something wrong ?

* I want to attach a screenshot. wondering how that is done
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abuss368
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Re: VTSAX periodic investing in Chase

Post by abuss368 »

I am not familiar with Chase. Have you considered moving to Vanguard?
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aednichols
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Re: VTSAX periodic investing in Chase

Post by aednichols »

I suspect the message is technically accurate and a confusing quirk of the business logic on YouInvest.

Would not be surprised if after you have an existing $3k position, the repeating purchase amount drops to something more reasonable.

Reason being that if you have no current investment as you do now, the first purchase in a repeating purchase series would need to meet the fund's $3k minimum.
arf30
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Re: VTSAX periodic investing in Chase

Post by arf30 »

That usually just means that when you buy, it must result in a balance of at least $3,000 in the fund. If you've already got 3 grand or more in there, you can usually buy in any amount.
Topic Author
arnik83
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Re: VTSAX periodic investing in Chase

Post by arnik83 »

Thanks all. Let me place an order today for 3K and check back on the auto option once fulfilled.
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anon_investor
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Re: VTSAX periodic investing in Chase

Post by anon_investor »

arnik83 wrote: Wed Aug 19, 2020 12:40 pm Thanks all. Let me place an order today for 3K and check back on the auto option once fulfilled.
Does Chase charge you a commission to buy VTSAX?
fuddbogle
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Re: VTSAX periodic investing in Chase

Post by fuddbogle »

I've purchased less $3000 of VTI (VXUS too) through Chase YI.
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willthrill81
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Re: VTSAX periodic investing in Chase

Post by willthrill81 »

abuss368 wrote: Wed Aug 19, 2020 12:08 pm I am not familiar with Chase.
I'm sure that you've heard of Chase Bank, one of the mega-banks. They have an investment arm, but I have no idea what their fees are.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
Topic Author
arnik83
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Re: VTSAX periodic investing in Chase

Post by arnik83 »

anon_investor wrote: Wed Aug 19, 2020 2:08 pm
arnik83 wrote: Wed Aug 19, 2020 12:40 pm Thanks all. Let me place an order today for 3K and check back on the auto option once fulfilled.
Does Chase charge you a commission to buy VTSAX?
No in all Chase YouInvest accounts you get 100 trades free per year.
So if you have an ROTH , TIRA and Brokerage account. you get 100 free trades in each of them.

I think fidelity's site is more nimble and their phone customer service is very knowledgeable.
I just opted for Chase since I wanted have it all in one place.
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abuss368
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Re: VTSAX periodic investing in Chase

Post by abuss368 »

willthrill81 wrote: Wed Aug 19, 2020 2:24 pm
abuss368 wrote: Wed Aug 19, 2020 12:08 pm I am not familiar with Chase.
I'm sure that you've heard of Chase Bank, one of the mega-banks. They have an investment arm, but I have no idea what their fees are.
I had a mortgage with them years back!
John C. Bogle: “Simplicity is the master key to financial success."
Topic Author
arnik83
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Re: VTSAX periodic investing in Chase

Post by arnik83 »

fuddbogle wrote: Wed Aug 19, 2020 2:21 pm I've purchased less $3000 of VTI (VXUS too) through Chase YI.
Yes I have bought VTI in smaller values. my question was with regards to VTSAX, anyhow I had placed the order earlier today.
I will check back on the auto buying option to see if it still shows I need buy only in $3K minimum still.
Dead Man Walking
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Re: VTSAX periodic investing in Chase

Post by Dead Man Walking »

willthrill81 wrote: Wed Aug 19, 2020 2:24 pm
abuss368 wrote: Wed Aug 19, 2020 12:08 pm I am not familiar with Chase.
I'm sure that you've heard of Chase Bank, one of the mega-banks. They have an investment arm, but I have no idea what their fees are.
You can buy Vanguard funds without paying any fee. Fidelity and Schwab index funds can be purchased without paying a fee. YouInvest doesn’t charge a fee for the no load funds on their list. The load funds they offer charge the load for the fund class being purchased. I never buy load funds; consequently, I know nothing about the various fund classes or the loads that they charge. YouInvest is a convenient platform for Bogleheads who have a Chase bank account and choose to invest in index funds offered by Vanguard, Fidelity, or Schwab. There is no fee to buy ETFs.

DMW
Topic Author
arnik83
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Re: VTSAX periodic investing in Chase

Post by arnik83 »

Thanks All for the inputs.
My first order for 3K VTSAX got filled today.

So now when I went to set the auto purchases, it let me do it for smaller amount.
I have been accumulating VTI last couple of years, finally wanted to take the plunge to automate the investment :happy
Blue456
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Re: VTSAX periodic investing in Chase

Post by Blue456 »

arnik83 wrote: Thu Aug 20, 2020 11:07 am Thanks All for the inputs.
My first order for 3K VTSAX got filled today.

So now when I went to set the auto purchases, it let me do it for smaller amount.
I have been accumulating VTI last couple of years, finally wanted to take the plunge to automate the investment :happy
Let me know how it went. Also does Chase YouInvest allow joint brokerage account?
Topic Author
arnik83
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Joined: Mon Nov 19, 2018 10:11 pm

Re: VTSAX periodic investing in Chase

Post by arnik83 »

Blue456 wrote: Thu Aug 20, 2020 11:15 am
arnik83 wrote: Thu Aug 20, 2020 11:07 am Thanks All for the inputs.
My first order for 3K VTSAX got filled today.

So now when I went to set the auto purchases, it let me do it for smaller amount.
I have been accumulating VTI last couple of years, finally wanted to take the plunge to automate the investment :happy
Let me know how it went. Also does Chase YouInvest allow joint brokerage account?
I have been having YouInvest since 2018. I would still say my experience with Fidelity was far superior.
But Chase is getting there.

I have already setup the auto purchase today for VTSAX and it went fine.

Yes I have had a joint investment account with my spouse at chase.
You will need to check for a regular brokerage account though.
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