Author Topic: What account to open  (Read 1480 times)

ed1964

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What account to open
« on: August 21, 2015, 08:41:19 PM »
Hello!
I am wanting to open a Vanguard account, but not sure which one. I am going to start with 3,000 and have 340 a month I can add to it. It will be long term, so risk is not a big concern, but fees are. I would also like good dividends as well. What do you think? 

Thanks!

 

iamlindoro

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Re: What account to open
« Reply #1 on: August 21, 2015, 10:19:45 PM »
The question is phrased in a way that suggests you still have a bit of research to do.  Nobody can tell you what type of account to open because you haven't stated the information needed:  Is it a retirement account?  Are you looking to defer taxes, or do you want easy access to the funds?  Are you contributing to a 401(k) at work?  If no, do you have access to one, and is there matching?

You also seem to be conflating account type with account holding (your stated desire for "good dividends").  This is an awesome and easy read to start with:

http://jlcollinsnh.com/stock-series/

Once you get all the way through that, you'll probably be equipped to make the decision without help!


ed1964

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Re: What account to open
« Reply #3 on: August 22, 2015, 12:45:56 PM »
Thanks for the reply!

I guess I didn't come across good, sorry not the most computer savvy. I am already
FI and I guess RE, although I own a small lawn service I work about 18hrs. per week, and a small farm with a few cows. I have 401k from old job, I have ROTH, and a personal investment account. The problem is it is all with a managed broker. I sold a small building that I used as a mower repair, I am carrying the note, at 5% . I finally talked wife into letting me put this into a Vanguard account, and I just wanted to know what you guys are using. I hope to show wife how much better it would be to have all
accounts moved to Vanguard. She has to see to understand, and her family always used the guy we got. So any help would be appreciated.

Thanks!

MDM

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Re: What account to open
« Reply #4 on: August 22, 2015, 03:39:49 PM »
I finally talked wife into letting me put this into a Vanguard account, and I just wanted to know what you guys are using.

+1 to forummm's suggestion to having the Vanguard tool make some suggestions for you.

My default recommendation for folks just getting started with investing is VTTSX (google it if needed) - but there's an underlying assumption that those people can tolerate wide swings because they have a long time to wait.  Just guessing here, but VSMGX (google it or see https://investor.vanguard.com/mutual-funds/vanguard-mutual-funds-list - check the "Balanced" box on the left of that page after it opens) might (or might not) be a better fit for you.