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Bob wrote,

An other option would be to find out what Index Fund E*Trade has available on a No-Transaction-Fee basis so you could add money monthly.

Just to clarify but I am the person with the E*Trade account and not the OP that was asking the initial question. As far as finding a NTF fund at E*Trade, the ones I was interested in investing in all carried a rather healthy commission. Thus my thoughts of opening a Scottrade account to invest my taxable dollars.

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