This Web site contains a compilation of more than a thousand consumer finance
columns written by Tony Novak from the 1980s through 2006, updated and reformatted for
maximum usefulness today. New material was added after
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First investment
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If you notice an error or are in doubt, please send a new question by
email or ask for an update. Email asktony@tonynovak.com.
Q: I heard that an “S&P
500 Index Fund” is the best choice for a first investment. Do you
agree?
A: Yes. “S&P” refers to
Standards and Poors, a reliable provider of investment data and news.
The “500” means the largest companies in the U.S. – not bad company as
far as investing goes. “Index fund” refers to a mutual fund that offers
shares to the public. If you are starting out with a small balance and
plan to add to the account over time, use the well-established Vanguard
Index 500 fund. If you are investing a single lump sum, use “SPY” an
exchange-traded fund with lower costs and even better performance.
Accounts are available directly to the public or can be set up through
OnlineAdviser service.
Summary
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