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I'm an 18 year old college sophomore and new investor who has decided to open up a Roth IRA. I've been aware of
the wonderful long-term benefits of this type of account for over a year now; I've just been waiting for the right time.
With the Dow taking a nice dip today, I realized that I really want to start investing now.

I've already saved the $2,000 from my work-study job and my internship from last summer. I want to invest in the
VFINX, which tracks the S&P 500. Initially, my thoughts were to open a brokerage account with Vangard. It's a
stable organization with a great reputation. But, as I look at the fees more closely, I see that account maintenance
requires a deduction of $2.50 per quarter and annual fund operating expenses are .18%.

I plan on making only one purchase of VFINX (the maximum of $2,000) every year for my Roth IRA until I hit
$10,000--then, I'll begin to play around a bit more in individual stocks. Should I open a brokerage account with
Vanguard? Is there another *reputable* brokerage with cheaper IRA fees? On the Discount Brokerage chart,
Ameritrade looks like a good deal for my situation. But I plan on keeping the same brokerage for the next few years (I
wont have time to investigate and bounce between firms); therefore, I definitely need someone I can trust.

I would really appreciate any help or insight you all could provide!


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