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Dollar-Cost Averaging Without Commissions
Posted on 5/23/14 at 11:06 am
Posted on 5/23/14 at 11:06 am
I am building a portfolio of Blue Chip DRIPS for my kids, which in addition, I want to make a regular contribution. It seems that if I do this in any of my current brokerage accounts, I would get killed by the commissions on every purchase. Are there any institutions that allow for this without eating your lunch on commissions?
5
Posted on 5/23/14 at 11:13 am to Douboy
Fee based accounts with a FA
Basically any firm has fee based platforms ranging from 1- 1.5 percent annual charge
Basically any firm has fee based platforms ranging from 1- 1.5 percent annual charge
This post was edited on 5/23/14 at 11:15 am
Posted on 5/23/14 at 11:16 am to Douboy
Check the list of companies through computershare that are no fee to see if any are ones you're interested in. ...there's a good bit of them.
Posted on 5/23/14 at 12:14 pm to Douboy
I use index funds and haven't paid a dime in commission yet.
Posted on 5/23/14 at 2:05 pm to Douboy
Sharebuilder.com has a pretty cheap commission structure for automated purchases, and will re-invest all dividends for no charge at all.
What you ask about is exactly what I do with my Roth - a moderate chunk of money gets distributed among about 6 or 8 purchases on autopilot on the first Tuesday of the month for $12 in commissions (total), and all the dividends go back into their respective stocks automatically with no extra charge.
What you ask about is exactly what I do with my Roth - a moderate chunk of money gets distributed among about 6 or 8 purchases on autopilot on the first Tuesday of the month for $12 in commissions (total), and all the dividends go back into their respective stocks automatically with no extra charge.
This post was edited on 5/23/14 at 2:13 pm
Posted on 5/24/14 at 8:16 am to Douboy
I do use it for a few stocks I hopefully never sell. Worst thing is it buys in batches so you have zero control of what price you pay. Keep that in mind..
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