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Naaree, in a follow-up, asks:

Mr. Pixy, if you dont mind, a follow up please.

I agree that I should start with an Index fund. But since I am leaning towards trying FF at a later point in time, say 2 or 3 yrs.

1. Should I start this with a broker whose IRA fees is low. Or should I start the index fund with Vanguard and later on transfer it to the broker.

2. Can I put it in VFINX from any brokerage IRA account or just with Vanguard?

LOL....At being called "Mr." that is. Just call me "Pix," or if that's too informal then Pixy will do just fine. :-)

Some brokers will charge fees for the purchase of a fund and assess an annual IRA fee for records keeping as well. It really depends on the broker, but my inclination is to just go with Vanguard and worry about the broker when I'm ready to switch to a self-directed account a couple of years from now. Moving the money at that point in time is easy and cheap, so I wouldn't even worry about the broker until I was ready to use one.

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