08-09-2021, 04:07 PM
(08-08-2021, 06:26 PM)ChadR Wrote: Welcome to the forum. If you're only looking at doing $1,000/month in salary, it might be cheaper to just do an IRA instead of a 401k. Not sure what the fees for a Betterment 401k are, but it won't be cheaper than a the $0 annual fee that most brokerage houses charge for a traditional IRA or a ROTH IRA. On a minimum amount to start investing in a position, starting off with 1 share is better than not having any shares. With $0 trading fees, don't feel the need to wait till you have $1,000 or more to invest into an individual stock. With the name of texsubmariner, I'm guessing you're living in Texas.
Thanks Chad. The reason I thought of 401k is I could put more than $7,000 a year into it. But, I fully undrstand the cost side of it that the business would have to pay to have a place lije Betterment to set up and tun it. But, this would also give me the option to add other members (family) down the road if I decided.
And yes, I live in the great State of Texas ? and served on nuclear-powered submarines while in the Navy.