Establishing personal mutual fund account
Is it possible to set up your own account with a mutual fund company such as Fidelity Investments and pick a couple funds to invest some chicken money? If so which company is the most user friendly?
Terry Says
I would call either 800-FIDELITY or 800-VANGUARD — Both are very user friendly.
BUT first know what kind of risk you want to take with your money. “Chicken money” belongs in a money market mutual fund –or money market deposit account at a bank. You’d open a mutual fund account to invest in a diversified stock portfolio –and that has some risk of loss. You can buy the “whole stock market” with an S&P 500 stock index fund. But when “the market” goes down, being in a mutual fund won’t protect you against loss.
Please understand this before you invest.
