Can you add money towards an already existing mutual fund or drip?

When you open a mutual fund, you have to have "x" amount of money. But if in a couple of months you have more cash can you put it into the same fund? Or do you have to open another one? Same for drips, can you add more as you go?

You can add additional funds to an existing mutual fund. Just call the company and ask for deposit slips. Usually these are sent to you with your statements.

Good luck.

yes, u can. absolutely no problem.

DRIP's are definitely the way to go here. The dividends from DRIP Plans are automatically reinvested free of charge.

I am not a fan of mutual funds personally. Almost all of them have a sales charge of 1% to 2% and many have sales loads on top of that. Just to many fees for my personal preference.

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