
We all know how important it is to save for retirement. And everyone
has heard about IRAS and ROTH IRAS and what great options these are for
saving for retirement. Unfortunately, many of the companies that offer
these services require a large initial deposit just to open an account.
But don't worry, here are four companies that you can open retirement
accounts with starting with just $50.00.
- With as little as $50.00,
you can open an account as long as you enroll in the Automatic Asset
Builder program. This program enrolls you in automatic deposit of $50
each month into your account.
-
Vanguard (www.vanguard.com)
Most Vanguard funds require a high initial deposit, but their Star Fund only requires a $1000 initial investment.
-
American Century (www.americancentury.com)
They
offer Livestrong and OneChoice portfolios which require only a $500
initial investment when you sign up for automatic investment. They also
require that you deposit at least $100 each month.
-
USAA (www.usaa.com)
This company is only available to military and their family members.
They
have a great plan where there are no initial investment if you enroll
in automatic deposit. Monthly investment minimum is $50.
Note that most companies will charge a yearly account maintenance fee
for accounts with low balances. It still a good idea to invest even if
you are charged these fees. You should try to get your balance up to
the minimums as soon as possible though to avoid the fees.