marko
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 16, 2011
- Messages
- 8,464
Thought I might throw myself at the collective wisdom here.
Our 3rd year college age nephew has accumulated a nice chunk of cash over the summer.
He's a business major (but obviously an unsophisticated investor) and he'd like to put $500 into the market. Uncle marko has offered to match his investment and get him to $1K as a starting point and to monitor/advise along the way.
So we're looking at low minimum, moderate risk funds that might be a good place to get his feet wet. The main criteria seems to be low minimum. Yeah, I'm aware that the market is 'high' right now but a drop in price might also be what we now call a 'teachable moment'.
I was thinking of a simple S&P index fund but it seems the minimums are in the $10K range.
Any suggestions? I expect a lot of Vanguard suggestions from this forum but he's leaning toward TD Ameritrade as his savings is with TD Bank. Can he still buy Vanguard funds?
Thanks to all my friends here in advance!
Our 3rd year college age nephew has accumulated a nice chunk of cash over the summer.
He's a business major (but obviously an unsophisticated investor) and he'd like to put $500 into the market. Uncle marko has offered to match his investment and get him to $1K as a starting point and to monitor/advise along the way.
So we're looking at low minimum, moderate risk funds that might be a good place to get his feet wet. The main criteria seems to be low minimum. Yeah, I'm aware that the market is 'high' right now but a drop in price might also be what we now call a 'teachable moment'.
I was thinking of a simple S&P index fund but it seems the minimums are in the $10K range.
Any suggestions? I expect a lot of Vanguard suggestions from this forum but he's leaning toward TD Ameritrade as his savings is with TD Bank. Can he still buy Vanguard funds?
Thanks to all my friends here in advance!