Getting Into an Index Fund With Little Money Down

Help. I am looking for a growth or value index fund with a minimum investment of $1,000 or less. Vanguard requires $3,000.

-- Steve Underwood

Steve,

To start, I'm going to assume that you're talking about domestic index funds and you're going to hold these funds in a taxable account. If you are planning on buying a fund for your IRA account, most fund families will lower the initial minimum payment. Also, if you have a 401(k) plan at work, see if any high-minimum index funds are an option. These minimums generally are irrelevant in a 401(k) plan. ...