Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Goons Getting Ahead: Incremental Improvments BFC Edition
 
  • Post
  • Reply
savesthedayrocks
Mar 18, 2004
 I opened up an account with Charles Schwab to start investing money. As of now, $50 of every paycheck automatically gets deposited to this account. The plan is, every month to research and buy into various mutual funds.

While it's not a big deal on the surface, it's crazy to think that a little over two years ago I was living paycheck to paycheck and had to claim Bankruptcy due to bad decisions.

The biggest thing I can contribute my success to is signing up for Mint.com. The site is so helpful if you are willing to put in a little work upfront. With no cost, it's a no-brainer to get set up.

* # ¿ Aug 30, 2012 17:07
  • Quote
Adbot
ADBOT LOVES YOU

# ¿ May 8, 2024 03:49
  • Quote
savesthedayrocks
Mar 18, 2004

Lyon posted:

What he said. At $7 (or whatever a trade) that is almost 20% of your investment. If you just want to invest in mutual/index funds why don't you open up a Vanguard account, they don't charge fees on their own funds I believe and they have the lowest expense ratios?

Someone correct me if I'm wrong on that.

I think I'm doing it right, but I haven't been charged a fee yet and I've made several purchases. There are plenty of Mutual Funds that are "No Load/No Fee" and haven't charged me a fee yet. I have to hold them for at least 90 days according to the site:

quote:

Individuals can access thousands of mutual funds from hundreds of well-established fund families with no loads and no transaction fees through Mutual Fund OneSource.

Schwab's Short Term Redemption Fee may be charged on each redemption of funds held for 90 days or less and bought through Schwab's Mutual Fund OneSource service with no transaction fee.

Trades in no load funds available through Mutual Fund OneSource® service (including Schwab Funds®), as well as certain other funds, are available without transaction fees when placed through Schwab.com or our automated phone channels. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds.

Charles Schwab & Co., Inc., member SIPC, receives remuneration from fund companies participating in the Mutual Fund OneSource service for recordkeeping and shareholder services and other administrative services. Schwab also may receive remuneration from transaction fee fund companies for certain administrative services.

It wouldn't hurt to look into the other place you mentioned as well.

* # ¿ Aug 31, 2012 03:22
  • Quote
  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply
The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Goons Getting Ahead: Incremental Improvments BFC Edition