I have been contemplating opening a traditional IRA account for my wife, and was going to invest the funds at Vanguard in the S&P 500 index. However, the 'share' price on that fund is around $105.00 now, much higher than some of their other offerings. This site is a big advocate of Vanguard's S&P 500 index fund, but with the price so high, is there a fund similar in risk level, overhead costs, and performance that I should look at with either Vanguard or some other institution?The share price is really irrelevant. The minimum investment in VFINX is $3000. Whether that amounts to 30 shares or 300 shares really has no effect on the performance or lack thereof of the fund. If the S&P 500 Index goes up 5% your investment goes up 5% (more or less depending on expenses and other minor effects). The number of shares has no effect on the % increase or decrease in the value of the investment.
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