Where can I start investing with no money?

You may decide to have as little as $25 automatically deducted from your checking or savings account on a set schedule, such as on the fifteenth and/or the last business day of each month and invested into the portfolio(s) of your choice.

Or you may choose to have investments in the Alger portfolios deducted directly from your payroll check. All you need to do is fill out the appropriate form and submit it to your employers’ payroll department.

Alger Funds Mid-cap Growth Class B shares have averaged an annual return of 17.75% per year, and the Capital Appreciation shares 16.24% since 1993!

This is a load fund, but their Class B shares have no sales charge if held within the Alger Fund family for six years.

I am not suggesting that Alger Funds are right for you. Please call 800-992-3863 for their prospectus or visit them at www.alger.com for details.

Another fund company with a similar no-money-to-start program, is the no-load Homestead Funds. Their Small Company Stock Fund has had a 15.3% 3-year average return. Contact them at 800-258-3030 or www.homesteadfunds.com for a prospectus.

Other low-cost choices that may be right for you

No-load, T. Rowe Price will get you started with only $50 if you agree to regular additions to the fund (which you should do anyway, of course). Their website is www.troweprice.com and they can be reached at 800-638-5660.

With a $250 initial investment, you may like American Funds’ Growth Fund of America. It has averaged 16.27% (after load and expenses) these past 5 years and is quite well-managed. With 21 funds to choose from, their College-America 529 plan may be a good alternative to what your state has to offer. There telephone number is 800-421-0180, and you can explore their offerings at www.americanfunds.com.

Another fund with just a $250 minimum is the USAA First Start Growth Fund. Contact them at 800-382-8722.

The no-load Amana Growth Fund (800-728-8762) has a minimum opening balance of only $100, and requires additional share purchases to be just $25. You can see the prospectus and download an application at www.amanafunds.com .

Last thoughts about mutual funds

With an index fund you don’t have to worry about all of the details of which is the “best fund”. It’s like an airplane on auto-pilot; it’s going to automatically get you where you want to go.

The advantage of a well-managed fund is that your money can be skillfully protected in the inevitable bear markets.

But the all-important bottom line is to get started right now, and add to your fund on a scheduled, regular basis.

Get started now, keep saving and investing, and you will become wealthy. This is the way it works for others, this is the way it will work for you.

Other Stock Market Basics Topics:

1. Mutual Fund Advantages
2. History of Mutual Funds
3. NAV
4. Dollar Cost Averaging
5. General advice about choosing a fund
6. Mutual Fund Ratings
7. Evaluating Mutual Fund Investment Risk
8. Mutual Fund Share Classes
9. Mutual Fund Fees
10. The Mutual Fund Prospectus
11. How important is the manager's length of experience?
12. Why is the prospectus hard to understand?
13. Mutual Fund Annual Report
14. Comparing your fund to the competition
15. Comparing funds on an after-tax basis
16. Average Return on Investment
17. How Not to Pick a Mutual Fund
18. Cashing in Your Fund
19. When to Sell Your Fund
20. Mutual Funds and Asset Allocation
21. When to get started with a mutual fund
22. Types of Mutual Funds
23. Value Stock Funds
24. Growth Stock Funds
25. Small and Micro-cap Stocks
26. Mid Cap
27. Large Cap Companies
28. Income Stock Funds
29. Mutual Fund Index
30. Enhanced Index Funds
31. Sector Mutual Funds
32. Stock Market Sectors
33. Defensive Stocks
34. International Funds
35. Real Estate Mutual Funds
36. Socially Responsible Funds
37. Balanced Funds
38. Tax-Efficient Funds
39. Bond Convertible Funds
40. Junk Bond Funds
41. Mixtures of stock types
42. Closed End Funds
43. Exchange Traded Funds (ETF’s)
44. Stock Picking Strategy - Picking your own stocks?
45. Fund names, and what they really invest in
46. How to get started
47. Where can I start investing with no money?
    

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