Investing on a budget.How do I start investing in a mutual fund if I have limited resources? --J. Gardner Gardner, city (1990 pop. 20,125), Worcester co., N central Mass.; settled 1764, inc. as a city 1921. Its furniture and lumber industries date from c.1805. Diversified metal and electronics manufactures add to the city's economic base. A state prison is there. Covington, Georgia Covington is a city in Newton County, Georgia, United States. The population was 11,547 as of the 2000 census. Census Estimates of 2005 indicate a population of 13,856. The city is the county seat of Newton CountyGR6 Many people want to get into the investing game but find the minimum requirements for mutual funds daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin . The best way around these minimums is dollar cost averaging, a method of accumulating assets by setting aside a fixed amount of money in securities at set intervals. Some brokerage firms or mutual fund companies will waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such their minimums if you sign up for an automatic investment plan. You may even be able to set aside as little as $50 a month to purchase mutual funds. There are funds that require minimum initial investments of $250, but you can put small amounts into these until you reach that threshold (see "Investing From Scratch," December 1998). We recommend no-load funds A type of Mutual Fund that does not impose extra charges for administrative and selling expenses incurred in offering its shares for sale to the public. , which you can purchase directly from a mutual fund company. Why? Load funds charge a broker's fee. These fees--which can range from 4% to 8%--can eat into your returns (see "The Right Fund at the Right Price," Moneywise, July 1999). A reminder, though: even noloads levy some fees--management and maintenance charges are two--so you need to find that out up front. |
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