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.
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