I don't know if this question is appropriate for this board but I guess I'll try anyway. I apologize if you feel I should get this information elsewhere: Are there any online investment brokers, stocks, etc. that require a very, very low initial deposit for investing? I'm realy trying to rebuild my credit and start saving and investing. But at this time, I'd like to at least make the first step and start--I'd like something that I can also elect to have automatic deposits to each month or so. Can anyone help? If you have other suggestions I'd love to hear them! Thanks!
Hi, A good program that you may want to take a look at is, share builder (www.sharebuilder.com). It operates somewhat like a DRIP (Dividend Reinvestment Plan), which allows you to put a way any amount each week, month, quarter, towards the purchase of shares in companies that you like. Hope this helps, TommyC
T.Rowe Price and Strong (www.estrong.com) allow money market investing for as low as $50.00 a month with immediate dividends of 6-6.5% (you don't have to reach a minimum amount of $1000 to begin earning interest). They have equities (stocks) that you may be able to earn much higher interest in if you do the automatic investment for $50.00 a month. This is what I'm doing to begin my investment savings. Also, your company should have a montly payroll deduction, usually of no more than 6% of your monthly gross income for a retirement annuity plan. Marci
Also, buy and hold.com or Putn If you want stocks and not funds, buy and hold.com is cool. Plus they started IRA also recently. The initial investment is only $20. Putnam funds is also great. $50/mo will get you going. Good Luck www.buyandhold.com www.putnamfunds.com roni.
Thanks all! Thanks to all of you for your quick and helpful responses! I am going to check all of them out!
I second Sharebuilder. A couple of months ago they had $50 signup bonus, which you receive after your first transaction. I set up a custodian account for my son's college fund with $25 a month out of my checking account. The commission is only a dollar per transaction ($2 for regular accounts). And I can check everything online.
