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Author: larry149 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: ROTH IRA with low initial contributions Date: 3/27/2005 10:09 AM
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I was asked by a young person for advise on a mutual fund provider offering ROTH IRA accounts with very low intial investments. Something in the range of < $500 intial investment or < $100/month. Naturally, we're looking for a no-load, low expense/fees, fund with reasonable performance/management. Any ideas would be greatly appreciated? Thanks, Larry
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Author: SirTas Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 45284 of 75381
Subject: Re: ROTH IRA with low initial contributions Date: 3/27/2005 10:35 AM
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Well, one possibility is http://www.scottrade.com/index.asp They have a minimum of $500 (and no other fees, such as custodial fees).

They have about 850 NTF mutual funds that are buyable without paying the $17 fee that they charge for most mutual funds.

BTW, doesn't an unmarried person have to have earned income in order to have an IRA of any kind?

--SirTas

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Author: dallasfire Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 45301 of 75381
Subject: Re: ROTH IRA with low initial contributions Date: 3/28/2005 11:08 AM
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Any person must have earned income up to the amount contributed in order to put funds into an IRA/401k.

Paul

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Author: 3muttsmom Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 45312 of 75381
Subject: Re: ROTH IRA with low initial contributions Date: 3/28/2005 9:57 PM
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Any person must have earned income up to the amount contributed in order to put funds into an IRA/401k.

Unless it is a spousal IRA for a SAHM.

3MM


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