Guest jbandkb Posted August 5, 2004 Posted August 5, 2004 My husband can not start contributing to his 401K until he has been with the company a year so we would like to start a Roth for him until then. Unfortunately we don't have a large lump sum to contribute to start. Are they any choices for people who do not have a lot to start with?
Demosthenes Posted August 5, 2004 Posted August 5, 2004 Many fund companies will waive the minimum balances if you sign up for regular monthly electronic fund transfers from your savings/checking accounts. The can be as low as $50 a month. American, Fidelity, Vanguard and many more offer this as an option and will waive annual maintenance fees to boot. One wrinkle to be aware of is that if you stop the fund transfers and have not met the minimums for an account/fund, the maintenance fees can kick in.
Guest saber Posted August 6, 2004 Posted August 6, 2004 Depending on how much you mean by alot, scottrade.com has Roth IRA accounts with no fees. You need to open it with $500 though I believe. Check the site out and you can get info on their local branches as well.
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