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I know there has been some discussion in the past about starting up Roth IRA's which have low minimum initial investment requirements.

I'm interested in starting out in an S&P 500 Index Fund. Unfortunately, the ones I've looked into (SSGA and T. Rowe Price) on Morningstar suggest that they either have a 12b-1 fee (SSGA, even though its TOTAL expense ratio is less than the Vanguard S&P 500 Index Fund) or else a Maximum Potential redemption fee (T. Rowe Price, even though its total expense ratio is still pretty low).

In the case of SSGA, do I need to worry about the 12b-1 charge when the total expense ratio is low? In the case of T. Rowe Price, is the potential of a redemption fee cause for alarm?

Ideally, I'd like a low- or no-minimum S&P 500 Index Fund ($0 - $250) for a Roth IRA, which also has very low expenses and a low automatic monthly investment option, too. Any other suggestions? Thanks!

--Z
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