Hey mr. moneymustache readers,
I just recently turned 18 and after being motivated by a NPR Planet Money episode on index funds, the listen money matters podcasts, and this site, I decided that I want to start investing. As I am 18 and still in high school I don't have a very large income and can afford to invest between 70-100$ a month depending on how much work I get.
Now, the listen money matters podcast and an article on this site both recommend Betterment, but after reading about their fees (3/mo if I don't manage to invest 100$ a month and 0.35% if I do), I have become a little skeptical. These fees will compound and could cost me money that could have been invested. I have also heard about WiseBanyan but am skeptical of their business structure as they seem to only make money from charging for extras. I don't like the idea of the company managing my (relatively small but substantial to me) investments going under and me having to sell the ETFs, suffering the associated tax. (Also, I need whatever service I use to provide all the necessary tax forms as taxes will otherwise be irritating for me)
Vanguard seems like a great option, but their mutual funds have 3000$ minimums that I can't afford and buying single ETFs seems irritating as I don't believe they allow purchasing of fractional shares. This would make it much harder to invest, as I would also have to make sure my portfolio is well balanced and could only purchase one ETF whenever I have saved up enough to buy it.
Any recommendations will be well appreciated!