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my sit. im going to school for about 18 months, im not going to have any money to invest. i have about 1000 in stocks that im going to hold long term, I want to get out of my ameritrade acct ant stop paying maintanance fees. I dont know where to go, anyone in a simeler situation?


It is great that you have already started investing.

Unfortunately for the small investor most brokers now charge fees on accounts that only maintain a small balance. And those fees can take a large chuck out of your potential gains.

I think the first step is for you to seriously think about how much you can make on the stocks you currently hold. If you think it will be 10% per year, obviously you need to find a broker that will charge less than $100 in fees (just to stay even). Also, is it possible that you'll need the money in the next five years to avoid using a credit card?

If you are sure you won't need the money and you are sure you want to keep the stocks long-term, you could have the stock certificates issued to you. There would be a cost and in order to sell the shares you would very likely have to pay a broker again, but while you hold the stock there would be no cost.

If you wanted to continue investing at a low cost you could look in to DRIPs (Dividend Reinvestment Plans).

DRIP Resources:

DRIP Portfolio Area (check out links)
National Association of Investors Corporation
The MoneyPaper, Inc.
Drip Investing - The Basics discussion board
Drip Investing – Companies - FAQ (post & discussion board)

College Resources:

Paying for College
A Tax-Smart Way to Save for College
Hot Deals on Student Loans!
SavingForCollege (web site)
Paying Back Student Loans discussion board

Keith O'Malley
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