Traditional IRA with low startup requirement?

[Skate1968]

I'd like to save a little money for at least someone this year. I'm trying to push a few people into contributing to thier own traditional IRA (i can't believe they act as if they never heard of such a concept).

I believe Vanguard has reasonable fees for managing such an account-- no front end or back end charges. But they have a minimum investment of 1,000 dollars for a starter fund. Does anyone know of an outfit that'll allow someone to start a fund with less than $1,000?

I got nowhere with Tia Cref.

(after 4-16 i can encourage these people to put part of thier refund checks in thier IRA)

thanks

[JoshinNC]

American Funds

They do charge a load on their funds, but they have some of the lowest managment fees (apart from Vanguard) and recieve great ratings from the "experts". Stock funds can be purchased with $250 minimums and only $25 if they set up for recurring investments via bank draft. They are only sold through brokers though.

https://www.americanfunds.com

[KBTS]

Fidelity

Fidelity has something called a "Simple Start" IRA. You can open an account with as little as $200 if you agree to monthly or quarterly deposits withdrawn from a checking or savings account. Fees are pretty low and I think there are no loads.

[HBurkholder]

Why wait until 4/16

Why wait until 4/16 to put part of thre refund into an IRA. I believe you have until 4/15 to put into an IRA for 2006. Get the deduction now and still use the refund to fund the IRA.

[sea-tax]

Why wait until 4/16 to put part of thre refund into an IRA. I believe you have until 4/15 to put into an IRA for 2006. Get the deduction now and still use the refund to fund the IRA.

Is not the filing deadline 4/17 this year? So you would have until then to make your 2006 IRA contribution.

As for the company American Funds all the way . Great Returns, Low Risk, Low Cost and Awesomely managed. What else do you want. Never had a client ask to sell their American Funds investments.

[veritas]

American funds

has introduced new self balancing funds predicated on your anticipated retirement age.

[sea-tax]

has introduced new self balancing funds predicated on your anticipated retirement age.

Hey my southern friend how is it hanging in P- town. Or at least that is what those hip people say.
Funny you should mention target date funds. I set two up this week one with American and one with Oppy. I think all my small IRA accounts and simples will be following suit.

[veritas]

I have an appt

next week to setup simple accounts for a small company. This is going to make it a tad easier. I just ordered some prospectuses this evening.

Things are going pretty smooth. How are you liking the scanners and DMS?