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http://boards.fool.com/for-now-im-planning-on-keeping-it-small-even-if-30907530.aspx
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| Subject: Re: Roth IRA acct and safekeeping fees | Date: 10/5/2013 9:55 AM | |
| Author: Rayvt | Number: 73442 of 88772 | |
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for now I'm planning on keeping it small, even if that means I suffer a bit short term. That $1000 I consider an investment in my financial education. I want to start small, slow and conservative. In a year I hope to have learned enough to begin doing more. Unfortunately, $1000 is too small to "learn by doing". It's like sitting down at a $100 ante poker table with $1000. Just (barely) enough to get you in, not enough to keep you from losing it all in the first few hands. To invest in individual stocks & ETFs, the realistic bare-bones minimum is $5000 -- 5 positions of $1000 each. Even then, the friction -- commissions & bid/ask spread -- is going to take the bulk of any profits. The fact that most mutual funds have a minimum initial amount of $3000 should tell you something. |
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