Where can I Buy Mutual Funds?
Unfortunately, investing is not as simple as going to the store and placing an order. Luckily, it is much easier these days than it has been in the past. For most mutual funds, you can go online and choose the right mutual fund for you.
Find a Brokerage Firm
As a beginner investor, you want to look for the most cost effective investments. On the internet, there are several investment companies that will allow you to trade stock and invest in mutual funds. Look around to find one that is trusted with excellent reviews and has features that will greatly benefit you.
Year ago, you would have had to set up an account with a brokerage firm in person. Now, investing in mutual funds or stocks is so much easier because you can do it online. Online stock trading has many benefits over a brick and mortar firm, mainly its simplicity and ease, but it can also be cheaper.
Here I have listed some of the online banks and brokerage firms that I use and that I have had success and no trouble with at all. I have been involved with both for over 2 years and have never had a problem with either. Trading stocks online is as simple and safe as it gets!
ING Direct is a trusted online bank that has had available a savings account with a high rate of return for a while now. They have recently acquired ShareBuilder an online brokerage firm. Together, they now offer mutual funds that you can invest in.
What’s great about Sharebuilder is that you don’t need to have a lot of money to start investing. One benefit of mutual funds is that you can invest a small amount and still stay diversified. Sharebuilder offers one of the lowest minimums for investing in mutual funds at $1,000. If you don’t have that much money yet, you can set up an automatic investment plan for as little as $100 until you reach the minimum.
Choose the Type of Mutual Fund
Not all mutual funds are created equally. The fund you choose will depend on how old you are and how much you are willing to risk. Sharebuilder offers several mutual funds in the following classes:
Money Market Funds
Asset Allocation Funds
Fixed Income Funds
Domestic Equity Funds
Enhanced Index Funds
Global Funds
International Funds
Specialty/Sector Funds
You can choose a conservative fund if you are closer to retirement and want to take less risk, or you can choose the growth fund if you are younger and are looking for a potentially higher return. There are also funds for large, mid, and small cap companies, a real estate fund, international funds, and more to choose from.
All you have to do is sign up with ShareBuilder. Once you sign up, you can either buy stocks, invest in mutual funds, or both. Get started now, the sooner the better!
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