By Marylou Morano Kjelle
The advanced global of making an investment in mutual money is simplified for modern youngster. From what mutual money are to how they're tormented by fiscal alterations is targeted with useful examples from the teen's international.
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Additional resources for A Teen Guide to Buying Mutual Funds
How can shares be redeemed? Is there a cost associated with either purchasing or redeeming shares of the fund? Who is the portfolio manager? A prospectus will provide the name and address of the portfolio manager and the financial credentials and experience that make him or her qualified to manage the fund. indd 38 5/16/13 9:53 AM Let’s Invest Some Money! A mutual fund prospectus is an invaluable means of learning all you can about the fund you are thinking of investing in. What is the fund’s history?
They can be very helpful, but be sure you know how they will be paid. Some will charge a flat or hourly fee, while others only make money (or a commission) when they sell various investments. While it may seem more expensive to pay a flat fee, some experts warn against using commission-based advisors, because they could sell products that make them more money instead of the investments that are best for their clients. indd 28 5/16/13 9:52 AM Types of Mutual Funds like the S&P 500 or the Dow Jones Industrial Average (DJIA), making them riskier investments.
Still, in order to maximize their profit, many investors seek out low-cost funds, like the T. Rowe Price Growth Stock Fund and the Fidelity Blue Chip Growth Fund. These funds, and others like them, try to keep their operating expenses below 1 percent of their holdings. Nevertheless, any charges to buy or sell shares, as well as the operating costs, should be thoroughly researched before you make an investment in any mutual fund. indd 35 5/16/13 9:52 AM You’ve developed a financial plan, learned all you can about investments, and decided on a portfolio of investments.