I am considering opening a Roth IRA. With an initial deposit of 2K, would this be enough to effectively apply towards the Foolish 4 Strategy? Or should I try another strategy until I accumulate a certain amount of capital? I'm open to suggestions!san001
san001 Date: 4/30/99 2:43 PM Number: 10254 With an initial deposit of 2K, would this be enough to effectively apply towards the Foolish 4 Strategy?This is a very frequent question, so a little time with the search button or the FAQ - both towards the bottom of this page - will bring up lots of information.Basically, you're on the edge. If you have it in a discount broker that charges $10, it will cost you 2% of your money to get in. Some of us think that's too much, and you should buy S&P Depository Receipts (see the Harry Jones Portfolio) until you put in next year's contribution, unless you have $2000 someplace else that you could treat as a logical extension of this, splitting the F4 between the accounts. (I'm in that category). Others make the point that it's only $20 we are worried about, and it's only for the first year, so go for it and get started. But we all agree that it's your money, and you get to decide.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |