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What is the best mutual fund account for a first time investor?


What is the best mutual fund account for a first time investor?

Take a look at American Funds. Low costs, very low initial investment amounts, especially if you set up monthly automatic investments, and strong performance across all asset classes.

Try to find a financial planner in your area that helps first timers learn about asset allocation and investing vs. trading.

You need to talk with several funds like Fidelity and Vanguard. Also Consumers Union has an annual report on mutual funds as does Kiplinger

Some investment firms that I used in the past charge a small balance fee when I don't have enough money in their firms. I think this is very bad. But, recently, Fidelity told me that they don't charge small balance fee. I think it is a good deal for first-time investor.

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