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Which discount brokerage firms have Automatic Investment Plans with low fees??


I have a bad habit of saving money so I would rather have someone go to my account and withdraw a fixed amount money sharebuilder seems good but It looks like they charge alot and scottrade does not seem to have the automatic investment plan and they seems pretty fair in pricing any advice out there???? I think I could sock away 100 a month

I pretty happy with sharebuilders. They do have different plans to choose from. Also, If the fees are a problem, just find a stock that pays a nice dividend and in time it will pay for itself.

your right about sharebuilder the fees are too high. There are el cheapo firms out there but none of them gets my interest or apporval (especially sogo and zecco). $100 a month is really too small for investing purposes I would recommend instead an online savings bank like ING you can have them take out weekly or whatever and the yield is comparable to cd's but you can take the money back anytime. Try online banks first.

ok I forgot about mutual funds but pending on which one you want you have to pay whatever when you first purchase it. Example $250 minimum deposit for CWGFX (own) and they go up from there (and if says class a, b or c run away from them FAST!)

I still endorse the online bank 4.5% and higher cannot be ignored.

Another alternative is to find a mutual fund company that will do automatic investing at no additional fees. Companies like Vanguard and American Century are good no load funds with reasonable management fees. You can open an account for a minimum investment, then have them pull money out of your checking account for free each month.

It's also easier and less trouble than managing a stock portfolio.

You may be better off with a direct investment plan. Here is a partial list of companies that offer them.

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